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

FEMA - 387/2017-RB - Dated:- 9-3-2017 - RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) NOTIFICATION No. FEMA. 387/2017-RB Mumbai, the 9th March , 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 issue of Security by a Person Resident outs .....

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sub-regulation (ii dd) and before the existing sub-regulation (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 Companies Act, 2013 or an office, branch or agency in India as provided .....

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seller. 3. Amendment of Schedule 1 In the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000, (Notification No. FEMA 20/2000-RB dated 3rd May 2000), 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 would engage only in Business to Business (B2B) e-commerce and not in ret .....

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