Government-supported Line of Credit finances exports for training and incubation centres subject to sourcing and compliance conditions. Government-supported Line of Credit finances exports of eligible goods and services for establishment of vocational training and business incubation centres; at least 75 per cent of contract value must be supplied from India with up to 25 per cent procured from outside. Shipments under the LoC must be declared on the Export Declaration Form. No agency commission is payable under the LoC, although exporters may remit commission from their own funds or Exchange Earners' Foreign Currency Accounts after realisation, subject to extant remittance rules and Authorised Dealer compliance under FEMA.
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.
Government-supported Line of Credit finances exports for training and incubation centres subject to sourcing and compliance conditions.
Government-supported Line of Credit finances exports of eligible goods and services for establishment of vocational training and business incubation centres; at least 75 per cent of contract value must be supplied from India with up to 25 per cent procured from outside. Shipments under the LoC must be declared on the Export Declaration Form. No agency commission is payable under the LoC, although exporters may remit commission from their own funds or Exchange Earners' Foreign Currency Accounts after realisation, subject to extant remittance rules and Authorised Dealer compliance under FEMA.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
