https://www.taxtmi.com/circulars?id=2136 RBI authorises Exim Bank's Line of Credit to the Philippine export agency for financing capital goods, plant and machinery, consumer durables and other items eligible under India's Foreign Trade Policy; shipments must be declared on GR/SDF Forms. No agency commission is ordinarily payable, though exporters may pay commission from own free foreign exchange; Reserve Bank may permit commission up to 5 per cent for after sales service cases, payable in the Philippines by invoice deduction and reimbursable to the negotiating bank at 90 per cent of the f.o.b./c&f/c.i.f. value minus commission, subject to prior approval. The direction is issued under sections 10(4) and 11(1) of FEMA, 1999. en-us Mon, 18 Jul 2005 00:00:00 +0530 Fri, 03 Oct 2008 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2136 RBI authorises Exim Bank's Line of Credit to the Philippine export agency for financing capital goods, plant and machinery, consumer durables and other items eligible under India's Foreign Trade Policy; shipments must be declared on GR/SDF Forms. No agency commission is ordinarily payable, though exporters may pay commission from own free foreign exchange; Reserve Bank may permit commission up to 5 per cent for after sales service cases, payable in the Philippines by invoice deduction and reimbursable to the negotiating bank at 90 per cent of the f.o.b./c&f/c.i.f. value minus commission, subject to prior approval. The direction is issued under sections 10(4) and 11(1) of FEMA, 1999. Circulars FEMA Mon, 18 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2136