https://www.taxtmi.com/circulars?id=5383 Exim Bank's USD 100 million LOC for Sri Lanka's Colombo-Matara railway requires at least 85% of contract value to be supplied from India; remaining non consultancy inputs may be sourced externally. The Credit Agreement is effective from October 3, 2008, with LC/disbursement cutoffs at 48 months from project completion for project exports and 72 months from execution for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may use own funds or EEFC balances for commission payments subject to realization and prevailing rules. AD Category I banks must inform exporters and may permit remittances; Directions issued under sections 10(4) and 11(1) of FEMA, 1999. en-us Wed, 05 Nov 2008 00:00:00 +0530 Wed, 05 Nov 2008 16:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5383 Exim Bank's USD 100 million LOC for Sri Lanka's Colombo-Matara railway requires at least 85% of contract value to be supplied from India; remaining non consultancy inputs may be sourced externally. The Credit Agreement is effective from October 3, 2008, with LC/disbursement cutoffs at 48 months from project completion for project exports and 72 months from execution for supply contracts. Shipments must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may use own funds or EEFC balances for commission payments subject to realization and prevailing rules. AD Category I banks must inform exporters and may permit remittances; Directions issued under sections 10(4) and 11(1) of FEMA, 1999. Circulars FEMA Wed, 05 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5383