Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Fourth Amendment) Regulations, 2017

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....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 the Foreign Exchange Management (Transfer or ....

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...."(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 Companies Act, 2013 or an office, branch or agency in India as provided in Section 2 ....

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....lowing: 16.2 E-Commerce % of equity/FDI Cap Entry route 16.2.1 B2B E-commerce activities 100 % Automatic Such companies would engage only in Business to Business (B2B) e-commerce and not in retail trading, inter alia implying that existing restrictions on FDI in domestic trading would be applicable to e-commerce as well. 16.2.2 Market place model of e-commerce 100 % Automatic 16.2.3 ....

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.... value on financial year basis affected through its marketplace from one vendor or their group companies. f) Goods/services made available for sale electronically on website should clearly provide name, address and other contact details of the seller. Post sales, delivery of goods to the customers and customer satisfaction will be responsibility of the seller. g) Payments for sale may be facilit....