https://www.taxtmi.com/circulars?id=7940 Exim Bank's Line of Credit to Vnesheconombank, Russia finances exports eligible under India's Foreign Trade Policy. The Credit Agreement is effective from January 18, 2010, with the terminal date for opening Letters of Credit on January 17, 2013, and for disbursements on July 17, 2014. Shipments must be declared on GR/SDF forms. Agency commission is ordinarily not payable, but Reserve Bank may permit up to 5% for exports requiring after sales service; such commission must be deducted from the invoice and prior approval obtained from the relevant Foreign Exchange Department. Exporters may use own funds or EEFC balances for commissions where applicable, and AD Category I banks should inform exporters and comply with prevailing instructions. Directions issued under FEMA provisions remain subject to other statutory permissions. en-us Tue, 09 Feb 2010 00:00:00 +0530 Tue, 09 Feb 2010 16:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=7940 Exim Bank's Line of Credit to Vnesheconombank, Russia finances exports eligible under India's Foreign Trade Policy. The Credit Agreement is effective from January 18, 2010, with the terminal date for opening Letters of Credit on January 17, 2013, and for disbursements on July 17, 2014. Shipments must be declared on GR/SDF forms. Agency commission is ordinarily not payable, but Reserve Bank may permit up to 5% for exports requiring after sales service; such commission must be deducted from the invoice and prior approval obtained from the relevant Foreign Exchange Department. Exporters may use own funds or EEFC balances for commissions where applicable, and AD Category I banks should inform exporters and comply with prevailing instructions. Directions issued under FEMA provisions remain subject to other statutory permissions. Circulars FEMA Tue, 09 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/circulars?id=7940