TaxTMI Login
Just a moment...
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>New Merchanting Trade Rules: No Domestic Entry, Same Bank, 9-Month Limit, Bank Guarantees Over $200K.</h1> The revised guidelines for merchanting trade transactions require that goods do not enter the Domestic Tariff Area or undergo transformation. Transactions must comply with India's Foreign Trade Policy, and both trade legs should be through the same authorized bank. The transactions must be completed within nine months, with no foreign exchange outlay beyond four months. Short-term credit is available, and advance payments for imports require bank guarantees if exceeding USD 200,000. Banks must ensure genuine traders and report defaults. These guidelines, effective from January 17, 2014, are issued under the Foreign Exchange Management Act, 1999.
TaxTMI 