TMI BlogForeign Exchange Management (Non-debt Instruments) (Amendment) Rules, 2019X X X X Extracts X X X X X X X X Extracts X X X X ..... the Foreign Exchange Management (Non-debt Instruments) (Amendment) Rules, 2019. (2) These rules shall be deemed to have come into force on the 17th October, 2019, except items (i), (ii), (iii), (iv), (v) and (vii) of rule 6 which shall come into force on the date of their publication in the Official Gazette. 2. In the Foreign Exchange Management (Non-debt Instruments) Rules, 2019 , (hereinafter referred to as the principal rules), in rule 2, - (i) in clause (ae), the words, brackets and figures and (iv) mutual funds which invest more than fifty percent in equity governed by the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996; shall be omitted; (ii) in clause (am), the words a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hould not in any case be lower than the fair value worked out, at the time of issuance of such instruments, in accordance with these rules. 6. In the principal rules , in Schedule 1 , in the Table,- (i) against Sl. No. 3.2, in column (2), under the heading Coal and Lignite,- (a) for entry (a), the following entry shall be substituted, namely: (a) Coal and Lignite mining for captive consumption by power projects, iron and steel and cement units and other eligible activities permitted under and subject to the provisions of the Mines and Minerals (Development and Regulation) Act, 1957 (67 of 1957) and the Coal Mines (Special Provisions) Act, 2015 (11 of 2015). ; (b) after entry (b), the followin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... No. 7.2.4 and before Sl. No. 7.2.4 as so renumbered, the following Sl. No. shall be inserted, namely:- 7.2.3 Uploading/Streaming of News and Current Affairs through Digital Media 26% Government ; (v) against Sl. No. 15.2.3, for entry (p), the following entry shall be substituted, namely;- (p) e-commerce marketplace entity with FDI shall have to obtain and maintain a report of statutory auditor by 30th of September every year for the preceding financial year confirming compliance of the e-commerce guidelines. ; (vi) against Sl. No. 15.3, in column (4), under the heading Entry Route, for the entries, the follo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her the goods procured are sold in India or exported. SBRT entity is also permitted to set off sourcing of goods from India for global operations against the mandatory sourcing requirement of 30 per cent. For this, purpose, sourcing of goods from India for global operations shall mean value of goods sourced from India for global operations for that single brand ( in INR terms) in a particular financial year directly by the entity undertaking SBRT or its group companies ( resident or non-resident), or indirectly by them through a third party under a legally tenable agreement. (g) A SBRT entity operating through brick and mortar stores, can also undertake retail trading through e-commerce. However, retail trading through e-commerce ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
