https://www.taxtmi.com/circulars?id=11952 The Export-Import Bank of India extended a Line of Credit to the Government of the United Republic of Tanzania for specified water-supply projects, requiring eligible goods, equipment and consultancy to be exported from India; at least 75 percent of contract value must be supplied from India and up to 25 percent (excluding consultancy) may be procured abroad. The agreement sets the operative effective date, distinct opening and disbursement timelines for project and supply contracts, mandates GR/SDF shipment declarations, prohibits payment of agency commission under the LOC while permitting exporter-funded commission subject to realisation and remittance rules, and directs AD Category I banks to ensure compliance under FEMA. en-us Tue, 11 Dec 2012 00:00:00 +0530 Thu, 13 Dec 2012 11:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11952 The Export-Import Bank of India extended a Line of Credit to the Government of the United Republic of Tanzania for specified water-supply projects, requiring eligible goods, equipment and consultancy to be exported from India; at least 75 percent of contract value must be supplied from India and up to 25 percent (excluding consultancy) may be procured abroad. The agreement sets the operative effective date, distinct opening and disbursement timelines for project and supply contracts, mandates GR/SDF shipment declarations, prohibits payment of agency commission under the LOC while permitting exporter-funded commission subject to realisation and remittance rules, and directs AD Category I banks to ensure compliance under FEMA. Circulars FEMA Tue, 11 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11952