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On 1 April 2022, the thresholds to identify companies with a “significant economic presence” (SEP) in India enter into force and the India Finance Act is fully implemented. In particular, companies with a revenue of over INR 20 million ($267000) stemming from sales to Indian persons or companies with over 300'000 Indian users are deemed to have a "significant economic presence" (SEP). Therefore, the revenue which can be attributed to these transactions or activities in India is taxable. The India Finance Act prescribes that companies with a "significant economic presence" (SEP) have a "business connection" in India, and therefore the income resulting from the SEP in India is taxable. SEP is defined as the operation of transactions in India for any type of product (including download of data or software) with the turnover from these transactions exceeding a threshold to be defined. Furthermore, SEP is defined as a company having a systematic interaction "through digital means" with a number of users exceeding a threshold to be defined. SEP however only applies to companies non-residing in India.
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