https://www.taxtmi.com/circulars?id=7441 An advance licence may be issued against a transferable Letter of Credit funded from a Special Rupee Escrow Account if the transferable L/C is transferred into the applicant exporter's name through proper banking channels prior to filing the advance licence application; export benefits accrue only to the transferee from the date of this circular. Exports paid through US dollar denominated Special Escrow Accounts held with the Reserve Bank or Indian commercial banks qualify for recognition weightage and for Special Import Licence on the same basis as freely convertible currency receipts, whereas rupee denominated receipts do not qualify. en-us Mon, 05 Oct 1998 00:00:00 +0530 Fri, 11 Sep 2009 17:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=7441 An advance licence may be issued against a transferable Letter of Credit funded from a Special Rupee Escrow Account if the transferable L/C is transferred into the applicant exporter's name through proper banking channels prior to filing the advance licence application; export benefits accrue only to the transferee from the date of this circular. Exports paid through US dollar denominated Special Escrow Accounts held with the Reserve Bank or Indian commercial banks qualify for recognition weightage and for Special Import Licence on the same basis as freely convertible currency receipts, whereas rupee denominated receipts do not qualify. Circulars DGFT Mon, 05 Oct 1998 00:00:00 +0530 https://www.taxtmi.com/circulars?id=7441