https://www.taxtmi.com/circulars?id=1846 Line of credit financing covers the majority of the f.o.b. value of eligible exports for specified Mauritius projects while importers pay the balance in U.S. dollars at L/C opening. Contracts require governmental approval and L/Cs must be opened by Mauritian banks, include a prescribed reimbursement clause and be supported by certificates that the importer's share has been received. Shipments must be declared on GR/SDF/SOFTEX forms with the circular reference; specified timelines govern contract signature, L/C establishment and full drawdown. Agency commission is ordinarily disallowed but may be permitted within limits for certain capital goods, and the directions are issued under the Foreign Exchange Management Act. en-us Mon, 30 Jul 2001 00:00:00 +0530 Fri, 03 Oct 2008 12:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1846 Line of credit financing covers the majority of the f.o.b. value of eligible exports for specified Mauritius projects while importers pay the balance in U.S. dollars at L/C opening. Contracts require governmental approval and L/Cs must be opened by Mauritian banks, include a prescribed reimbursement clause and be supported by certificates that the importer's share has been received. Shipments must be declared on GR/SDF/SOFTEX forms with the circular reference; specified timelines govern contract signature, L/C establishment and full drawdown. Agency commission is ordinarily disallowed but may be permitted within limits for certain capital goods, and the directions are issued under the Foreign Exchange Management Act. Circulars FEMA Mon, 30 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1846