Daijiworld Media Network - New Delhi

New Delhi, Aug 5: The Centre on Wednesday notified the operational procedures for online companies to undertake inventory-based cross-border e-commerce, giving effect to the recently announced policy allowing foreign-funded e-commerce firms to hold inventory exclusively for exports.

In a public notice, the Directorate General of Foreign Trade (DGFT) said the procedures would come into force with immediate effect.

"The operational procedures for the implementation of the inventory-based cross-border e-commerce facilitation framework, including registration of exporters-on-record, inventory management, seller visibility, reverse logistics, compliance certification, dispute resolution, and related procedural requirements of exporters-on-record are hereby notified with immediate effect," the DGFT said.

The notification follows the government's recent decision permitting e-commerce companies with foreign investment to maintain inventory solely for export purposes under the cross-border e-commerce framework.

The newly notified procedures lay down the operational requirements covering registration of exporters-on-record, inventory management, seller visibility, reverse logistics, compliance certification, dispute resolution and other procedural obligations for exporters participating in the framework.