Flipkart has applied for a licence to become a GST Suvidha Provider
Flipkart Internet Pvt Limited, the company that possesses and runs India's leading ecommerce portal. Flipkart, is expanding its paid up capital in an offer to gain a permit to wind up plainly a GST Suvidha Provider.
Flipkart, which has recently recieved about $2.5 billion from SoftBank, has specified in filings with the Registrar of Companies that it expects to wind up plainly a GSP since there are numerous online merchants and dealers who may not be consistent with GST.
Subsequently , the organization has expanded its paid-up to Rs 2 crore from its current Rs 48.43 lakh to wind up plainly qualified for GST Suvidha Provider (GSP) permit. Under existing guidelines , GSP need a base paid up capital of Rs 2 crore.
In its filing to the Registrar of Companies, that was gotten to on business reserch platform Tofler, Flipkart has said that the organization has expanded the paid-up cash-flow to Rs 2 crore to acquire a GSP permit. The organization intends to issue extra offers by issuing 7 new offers for each 2 shares held.The organization, in an executive meeting hung on 24th August 2017, has affirmed to issue extra offers by method for an uncommon determination, the RoC document stated.