https://www.taxtmi.com/circulars?id=5465 Exim Bank's USD 25 million Line of Credit to Madagascar finances two projects with exports eligible under India's Foreign Trade Policy; at least 85% of contract value must be supplied from India and up to 15% (excluding consultancy) may be procured abroad. The Credit Agreement is effective from December 4, 2008; LCs/disbursements must be opened within 48 months from project completion for project exports and within 72 months from execution for supply contracts. Shipments require GR/SDF declarations. No agency commission is payable under the LOC, though exporters may remit commission from their own resources or EEFC balances after realization. AD Category I banks must inform exporters and implement these directions under FEMA. en-us Wed, 24 Dec 2008 00:00:00 +0530 Wed, 24 Dec 2008 22:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5465 Exim Bank's USD 25 million Line of Credit to Madagascar finances two projects with exports eligible under India's Foreign Trade Policy; at least 85% of contract value must be supplied from India and up to 15% (excluding consultancy) may be procured abroad. The Credit Agreement is effective from December 4, 2008; LCs/disbursements must be opened within 48 months from project completion for project exports and within 72 months from execution for supply contracts. Shipments require GR/SDF declarations. No agency commission is payable under the LOC, though exporters may remit commission from their own resources or EEFC balances after realization. AD Category I banks must inform exporters and implement these directions under FEMA. Circulars FEMA Wed, 24 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5465