https://www.taxtmi.com/circulars?id=11199 Authorisation for two concessional Lines of Credit to finance eligible goods and consultancy services for a specified infrastructure project requires at least seventy-five percent of contract value to be supplied from the lending country, permits limited external procurement, sets distinct timelines for opening Letters of Credit and disbursement for project versus supply contracts, mandates shipment declarations on prescribed export forms, disallows agency commission under the LOCs except from exporter resources subject to remittance rules, and is issued under foreign exchange management powers without prejudice to other statutory approvals. en-us Tue, 26 Jul 2011 00:00:00 +0530 Tue, 26 Jul 2011 14:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11199 Authorisation for two concessional Lines of Credit to finance eligible goods and consultancy services for a specified infrastructure project requires at least seventy-five percent of contract value to be supplied from the lending country, permits limited external procurement, sets distinct timelines for opening Letters of Credit and disbursement for project versus supply contracts, mandates shipment declarations on prescribed export forms, disallows agency commission under the LOCs except from exporter resources subject to remittance rules, and is issued under foreign exchange management powers without prejudice to other statutory approvals. Circulars FEMA Tue, 26 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11199