https://www.taxtmi.com/circulars?id=11200 Exim Bank made a Line of Credit available to Indo Zambia Bank to finance exports eligible under India's Foreign Trade Policy, effective from June 29, 2011, with specified deadlines for opening LCs and final disbursement. Shipments must be declared on GR/SDF forms. Agency commission is generally not payable under the LOC, though the Reserve Bank may permit commission for exports needing after sales service; such commission must be deducted from the invoice, reimbursable amounts to banks will be ninety percent of FOB/CFR/CIF value, and prior RBI approval is required before shipment. AD Category I banks must observe realization and prevailing instructions for remittances. en-us Tue, 26 Jul 2011 00:00:00 +0530 Tue, 26 Jul 2011 14:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11200 Exim Bank made a Line of Credit available to Indo Zambia Bank to finance exports eligible under India's Foreign Trade Policy, effective from June 29, 2011, with specified deadlines for opening LCs and final disbursement. Shipments must be declared on GR/SDF forms. Agency commission is generally not payable under the LOC, though the Reserve Bank may permit commission for exports needing after sales service; such commission must be deducted from the invoice, reimbursable amounts to banks will be ninety percent of FOB/CFR/CIF value, and prior RBI approval is required before shipment. AD Category I banks must observe realization and prevailing instructions for remittances. Circulars FEMA Tue, 26 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11200