https://www.taxtmi.com/circulars?id=1842 The Government of India extended a line of credit to Myanmar to finance specified Indian capital goods, consultancy services and consumer durables on an f.o.b. basis covering 100 per cent of eligible contract value in U.S. dollars. Export contracts require prior approval by both Governments and must be forwarded to the Ministry of Finance; disbursements are to be made only under letters of credit opened by banks in Myanmar and advised to the State Bank of India, with a mandated reimbursement clause stating reimbursement by the State Bank of India from the credit and negotiability contingent on operative advice. Strict contractual and drawal deadlines, GR/SDF export documentation, limited agency commission rules, and penalties under FEMA are prescribed. en-us Sat, 26 May 2001 00:00:00 +0530 Fri, 03 Oct 2008 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1842 The Government of India extended a line of credit to Myanmar to finance specified Indian capital goods, consultancy services and consumer durables on an f.o.b. basis covering 100 per cent of eligible contract value in U.S. dollars. Export contracts require prior approval by both Governments and must be forwarded to the Ministry of Finance; disbursements are to be made only under letters of credit opened by banks in Myanmar and advised to the State Bank of India, with a mandated reimbursement clause stating reimbursement by the State Bank of India from the credit and negotiability contingent on operative advice. Strict contractual and drawal deadlines, GR/SDF export documentation, limited agency commission rules, and penalties under FEMA are prescribed. Circulars FEMA Sat, 26 May 2001 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1842