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TMI BlogForeign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Fourth Amendment) Regulations, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... arch , 2017 Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Fourth Amendment) Regulations, 2017 G.S.R. 224 (E).- In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) , the Reserve Bank of India hereby makes the following amendments in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gulation (ii e), the following sub-regulations shall be inserted: (ii E) E-commerce: a. E-commerce means buying and selling of goods and services including digital products over digital electronic network. b. E-commerce entity means a company incorporated under the Companies Act, 1956 or the Companies Act, 2013 or a foreign company covered under section 2 (42) of the Compani ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , in Schedule 1, in the existing Annex B, the existing entry 16.2 shall be substituted by the following: 16.2 E-Commerce % of equity/FDI Cap Entry route 16.2.1 B2B E-commerce activities 100 % Automatic Such companies wo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rovide support services to sellers in respect of warehousing, logistics, order fulfilment, call centre, payment collection and other services. d) E-commerce entity providing a marketplace will not exercise ownership over the inventory i.e. goods purported to be sold. Such an ownership over the inventory will render the business into inventory based model. e) An e-commerce entity will ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g field. j) Guidelines on cash and carry wholesale trading as given in S.No. 16.1.2 (stated above) shall apply to B2B e-commerce activities. Note: FDI is not permitted in inventory based model of e-commerce. 16.2.4 Sale of services through e-commerce shall be under automatic route subject to the sector specific conditions, applicable laws/regul ..... X X X X Extracts X X X X X X X X Extracts X X X X
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