Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Merchanting/intermediary trade safeguards: single-AD routing, document verification, nine-month timeline and FX limits, reporting, advance-account controls and bank-guarantee rules</h1> Revised operative guidelines for merchanting/intermediary trade require that only goods permitted under the prevailing Foreign Trade Policy be transacted, with export- and import-leg export/import rules (except EDF/Bill of Entry) complied with, ensuring regulatory conformity. Both export and import legs must be routed through the same AD Category-I bank, which must verify commercial and transport documents to satisfy genuineness, thereby centralizing due diligence. Transactions must complete within nine months and involve no foreign-exchange outlay beyond four months, thereby time-limiting exposure. Short-term supplier's or buyer's credit and discounting of export LCs are permitted, facilitating financing. ADs must one-to-one match legs, report defaults semi-annually and restrain or caution-list repeated defaulters, enforcing compliance. Payment sequencing, separate earmarked accounts for advances, bank-guarantee requirement for advance import payment, and R-return codes P0108/S0108 are prescribed, fixing operational and reporting requirements.
TaxTMI 
TaxTMI 
