https://www.taxtmi.com/circulars?id=5856 A national export credit institution extended a Line of Credit to finance exports of eligible goods and services with an 85% minimum Indian-sourced content and up to 15% external sourcing for non-consultancy items; the Credit Agreement sets effective and execution dates and distinct time-limits for opening Letters of Credit and final disbursement for project versus supply contracts. Shipments must be declared on prescribed GR/SDF forms; no agency commission is payable from the LOC though exporters may use their own foreign exchange balances to pay commissions subject to prevailing remittance rules; AD Category I banks must notify exporters and comply with FEMA-based directions without prejudice to other statutory approvals. en-us Thu, 16 Apr 2009 00:00:00 +0530 Fri, 30 Oct 2009 16:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=5856 A national export credit institution extended a Line of Credit to finance exports of eligible goods and services with an 85% minimum Indian-sourced content and up to 15% external sourcing for non-consultancy items; the Credit Agreement sets effective and execution dates and distinct time-limits for opening Letters of Credit and final disbursement for project versus supply contracts. Shipments must be declared on prescribed GR/SDF forms; no agency commission is payable from the LOC though exporters may use their own foreign exchange balances to pay commissions subject to prevailing remittance rules; AD Category I banks must notify exporters and comply with FEMA-based directions without prejudice to other statutory approvals. Circulars FEMA Thu, 16 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/circulars?id=5856