https://www.taxtmi.com/circulars?id=8522 A concessional Line of Credit of USD 416.39 million to Sri Lanka funds specified railway track-laying projects and related goods, services and consultancy, requiring at least 85% of contract value to be sourced from India and permitting up to 15% non-consultancy imports. The Credit Agreement, effective January 24, 2011, sets Letter of Credit and disbursement timelines, mandates GR/SDF shipment reporting, disallows agency commission under the LOC (while permitting exporter-funded commission subject to remittance rules), and instructs Authorised Dealer Category-I banks to notify exporters and ensure compliance under FEMA powers. en-us Mon, 14 Feb 2011 00:00:00 +0530 Tue, 15 Feb 2011 10:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8522 A concessional Line of Credit of USD 416.39 million to Sri Lanka funds specified railway track-laying projects and related goods, services and consultancy, requiring at least 85% of contract value to be sourced from India and permitting up to 15% non-consultancy imports. The Credit Agreement, effective January 24, 2011, sets Letter of Credit and disbursement timelines, mandates GR/SDF shipment reporting, disallows agency commission under the LOC (while permitting exporter-funded commission subject to remittance rules), and instructs Authorised Dealer Category-I banks to notify exporters and ensure compliance under FEMA powers. Circulars FEMA Mon, 14 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8522