Biz Model of eCom Cos

28 Biz Model of eCom Cos

With as little as Rs 90.50 lakh capital, WS Retail Service Pvt Ltd, an ecommerce company could achieve a turnover of Rs 13,921 crore in FY16 and got away by paying a meager sum of Rs 1.89 crore as income tax. The company, Flipkart, established by co-promoters Sachin Bansal and Binny Bansal (unrelated) is set up on tax avoidance principles. The promoters who are engineering graduates from the Indian Institute of Technology Delhi had worked in Amazon.com before starting their own venture in 2007.

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