Introduction of definition of e-commerce in foreign Trade Policy (2015-2020)
The DGFT vide Notification No. 2/2015-20 dt. 11-4-2016 has introduced the definition of e-commerce in Chapter 9 of the Foreign Trade Policy (2015-2020), as under:
DGFT Notification 2/2015-20 dt. 11-4-2016
In exercise of powers conferred by Section 5 of FT (D&R) Act 1992 read with paragraph 1.02 of the Foreign Trade Policy 2015-2020 as amended from time to time the Central Government hereby introduces the definition of e-commerce in Chapter 9 of the Foreign Trade Policy (2015-2020) as under:
9.17A “e-commerce means buying and selling of goods and services including digital products, conducted over digital and electronic network. For the purposes of Merchandise Exports from India Scheme (MEIS), e-commerce shall mean the export of goods hosted on a website accessible through the internet to a purchaser. While the dispatch of goods shall be made though courier or postal mode as specified under the MEIS the payment for goods purchased on e-commerce platform shall be done through international credit/debit cards and as per the Reserve Bank of India Circular (RBI/2015-16/185) [AP (DIR Series) Circular No. 16 dated September 24, 2015] as amended from time to time”
2. Effect of this Notification
Definition of e-commerce for the purpose of MEIS under FTP 2015-2020 is introduced in Chapter 9 of the Foreign Trade Policy (2015-2020).