Paytm Mall has mandated Goods and Services Tax (GST) compliance for its merchants to sell on the platform just ahead of the implementation of the tax structure on July 1.
Paytm who is backed by Alibaba claimed that 70% of their active sellers on the platform are GST compliant with others enrolling, through a helpdesk set up by the platform, at zero cost to ensure compliance.
The company has recently launched its online-to-offline business. It had also announced that it had over 1.2 lakh merchant on the platform previously. The online platform has also tied-up with the online tax-filing platform ClearTax. ClearTax will provide the Application Service Provider (ASP) interface for the merchants.
Amit Sinha, chief operating officer of Paytm Mall said,”We have implemented GST-compliance measures across our supply chain in advance to ensure quick and efficient delivery of items ordered from Paytm Mall. Our seller platform is also GST-ready and will shift to the new tax structures on Day 1 of the official launch”.
After analyzing the data Paytm said GST-compliant merchants have 90 million products mapped to HSN codes in preparation for the new tax slabs.