https://www.taxtmi.com/circulars?id=5305 A Line of Credit from Exim Bank to Mozambique finances eligible exports and consultancy for water drilling technology transfer; at least 85 per cent of contract value (excluding consultancy) must be supplied from India, with the balance permissible from outside India. The Credit Agreement fixes windows for opening Letters of Credit and disbursement for project and supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the facility, though exporters may use their own funds or EEFC balances to pay commission in free foreign exchange subject to AD Category I bank compliance. Directions are issued under FEMA without prejudice to other statutory approvals. en-us Fri, 26 Sep 2008 00:00:00 +0530 Sat, 27 Sep 2008 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5305 A Line of Credit from Exim Bank to Mozambique finances eligible exports and consultancy for water drilling technology transfer; at least 85 per cent of contract value (excluding consultancy) must be supplied from India, with the balance permissible from outside India. The Credit Agreement fixes windows for opening Letters of Credit and disbursement for project and supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the facility, though exporters may use their own funds or EEFC balances to pay commission in free foreign exchange subject to AD Category I bank compliance. Directions are issued under FEMA without prejudice to other statutory approvals. Circulars FEMA Fri, 26 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5305