https://www.taxtmi.com/circulars?id=5521 Exim Bank's Line of Credit finances specified projects in the Central African Republic with a sourcing requirement that at least 85 per cent of contract value be supplied from India and up to 15 per cent (excluding consultancy) procured abroad; eligible exports must conform to India's Foreign Trade Policy. The agreement sets distinct deadlines for opening Letters of Credit and disbursements for project and supply contracts, requires GR/SDF declaration of shipments, disallows agency commission under the LOC while permitting exporter-funded commission payments subject to realisation and remittance rules, and directs Authorised Dealer Category I banks to notify exporters, under foreign exchange management provisions. en-us Thu, 29 Jan 2009 00:00:00 +0530 Fri, 30 Oct 2009 16:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5521 Exim Bank's Line of Credit finances specified projects in the Central African Republic with a sourcing requirement that at least 85 per cent of contract value be supplied from India and up to 15 per cent (excluding consultancy) procured abroad; eligible exports must conform to India's Foreign Trade Policy. The agreement sets distinct deadlines for opening Letters of Credit and disbursements for project and supply contracts, requires GR/SDF declaration of shipments, disallows agency commission under the LOC while permitting exporter-funded commission payments subject to realisation and remittance rules, and directs Authorised Dealer Category I banks to notify exporters, under foreign exchange management provisions. Circulars FEMA Thu, 29 Jan 2009 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5521