https://www.taxtmi.com/circulars?id=1971 The Government of India extended a line of credit to the Government of the Lao PDR to finance eligible imports of Indian capital goods, consultancy services and consumer durables. The credit covers 90 per cent of the f.o.b. value with the importer required to pay the remaining 10 per cent in freely convertible currency at L/C opening. Contracts require bilateral approval and submission to the Ministry of Finance; letters of credit must be opened by Lao banks, advised to the State Bank of India, and claims for reimbursement must be supported by a negotiating bank certificate confirming receipt of the importer's share. en-us Thu, 27 Feb 2003 00:00:00 +0530 Mon, 06 Oct 2008 14:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1971 The Government of India extended a line of credit to the Government of the Lao PDR to finance eligible imports of Indian capital goods, consultancy services and consumer durables. The credit covers 90 per cent of the f.o.b. value with the importer required to pay the remaining 10 per cent in freely convertible currency at L/C opening. Contracts require bilateral approval and submission to the Ministry of Finance; letters of credit must be opened by Lao banks, advised to the State Bank of India, and claims for reimbursement must be supported by a negotiating bank certificate confirming receipt of the importer's share. Circulars FEMA Thu, 27 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1971