Line of Credit enables export financing under sourcing, LC/disbursement and reporting conditions for eligible contracts from India. A Line of Credit by Exim Bank to the Government of Zambia finances eligible exports of goods, machinery, equipment and consultancy services that qualify under the Foreign Trade Policy. At least 75% of contract value must be supplied from India, with up to 25% non-consultancy goods/services procured abroad. The Credit Agreement is effective from June 8, 2012; Letters of Credit and disbursements follow prescribed time limits. Shipments require GR/SDF declarations. No agency commission is payable under the LOC, though exporters may use own resources or EEFC balances for commission remittance subject to AD Category-I bank compliance. Directions issued under FEMA remain without prejudice to other statutory permissions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Line of Credit enables export financing under sourcing, LC/disbursement and reporting conditions for eligible contracts from India.
A Line of Credit by Exim Bank to the Government of Zambia finances eligible exports of goods, machinery, equipment and consultancy services that qualify under the Foreign Trade Policy. At least 75% of contract value must be supplied from India, with up to 25% non-consultancy goods/services procured abroad. The Credit Agreement is effective from June 8, 2012; Letters of Credit and disbursements follow prescribed time limits. Shipments require GR/SDF declarations. No agency commission is payable under the LOC, though exporters may use own resources or EEFC balances for commission remittance subject to AD Category-I bank compliance. Directions issued under FEMA remain without prejudice to other statutory permissions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
