Line of Credit for bilateral financing permits primarily India-origin supplies and sets export eligibility and disbursement timelines under foreign exchange rules. A central bank circular notifies an Exim Bank Line of Credit to finance eligible goods, project exports and consultancy services from India, requiring at least 85% of contract value to be supplied from India and permitting up to 15% of non-consultancy goods from abroad. The Credit Agreement is effective from February 1, 2011 and prescribes separate timelines for opening Letters of Credit and disbursement. Shipments must be declared on GR/SDF forms; no agency commission is payable under the LOC though exporters may use own resources or EEFC balances for commission subject to AD Category-I bank approval after realisation.
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 for bilateral financing permits primarily India-origin supplies and sets export eligibility and disbursement timelines under foreign exchange rules.
A central bank circular notifies an Exim Bank Line of Credit to finance eligible goods, project exports and consultancy services from India, requiring at least 85% of contract value to be supplied from India and permitting up to 15% of non-consultancy goods from abroad. The Credit Agreement is effective from February 1, 2011 and prescribes separate timelines for opening Letters of Credit and disbursement. Shipments must be declared on GR/SDF forms; no agency commission is payable under the LOC though exporters may use own resources or EEFC balances for commission subject to AD Category-I bank approval after realisation.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
