https://www.taxtmi.com/circulars?id=1998 A Line of Credit has been provided to a Sri Lankan bank to finance eligible Indian exports including capital goods and related services, requiring shipments to be declared on GR/SDF forms and letters of credit to be opened and utilised within prescribed terminal dates. Agency commission is generally disallowed but the Reserve Bank may permit limited commission for after sales service subject to prior approval and invoice deduction payment in the borrower's country, with the reimbursable finance amount adjusted accordingly. Directions are issued under the Foreign Exchange Management Act. en-us Wed, 02 Jul 2003 00:00:00 +0530 Fri, 03 Oct 2008 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=1998 A Line of Credit has been provided to a Sri Lankan bank to finance eligible Indian exports including capital goods and related services, requiring shipments to be declared on GR/SDF forms and letters of credit to be opened and utilised within prescribed terminal dates. Agency commission is generally disallowed but the Reserve Bank may permit limited commission for after sales service subject to prior approval and invoice deduction payment in the borrower's country, with the reimbursable finance amount adjusted accordingly. Directions are issued under the Foreign Exchange Management Act. Circulars FEMA Wed, 02 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/circulars?id=1998