The recent forgery and irregularities related to e-commerce platforms have come into the folds of the government. The authorities concerned have now planned to put a halt to such e-commerce platforms that are responsible for scamming people and involved in various irregularities. In this regard, it is good to note that e-commerce companies will have to get registered online filling out a prescribed format prepared by the ministry of commerce to do business. The ministry is now working on how to register all the e-commerce companies through an online system so that the service becomes hassle free but smart.
According to the sources, the committee will recommend the method of transparent financial transactions of e-commerce companies and how to bring them under VAT and Income Tax network. The committee has jurisdiction over the method of recovering money and assets. The Cabinet Division will decide whether an administrator will be appointed or not.
A separate cell should be made or a dedicated office
of the commerce ministry can be set up to supervise
the registration and monitor the operations of the registered firms
Primarily, the government should make registration free of cost and if necessary, they may charge a fee in the future. In future, a separate cell should be made or a dedicated office of the commerce ministry can be set up to supervise the registration and monitor the operations of the registered firms. The registration process will also enhance transparency and safeguard the accountability of the ministry, other regulatory bodies, and the e-commerce firms as well.
Bangladesh lacks a proper e-commerce policy yet and this loophole is exploited to the maximum by these e-commerce platforms. Therefore, it is necessary to formulate a functional e-commerce policy as early as possible. Many of these e-commerce platforms do not provide a cash-on-delivery facility rather the full price of a particular product has to be paid in advance. In the new e-commerce policy, there has to be an option of a cash-on-delivery facility, which will curb the dilemma of not receiving products on time.