https://www.taxtmi.com/circulars?id=12039 A line of credit from Export Import Bank of India to the Nigerian Export Import Bank finances eligible exports from India, requiring at least ninety per cent of contract value to be supplied from India, with specified effective dates and cut offs for letters of credit and disbursements. Shipments must be declared on GR/SDF forms. Agency commission is ordinarily not payable under the LOC, but commissions up to five percent for exports requiring after sales services may be approved subject to prior regulatory approval and must be deducted from invoices, with the reimbursable amount limited to ninety per cent of invoice value; exporters may otherwise use own funds or EEFC balances for commission payments. en-us Fri, 18 Jan 2013 00:00:00 +0530 Fri, 18 Jan 2013 15:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=12039 A line of credit from Export Import Bank of India to the Nigerian Export Import Bank finances eligible exports from India, requiring at least ninety per cent of contract value to be supplied from India, with specified effective dates and cut offs for letters of credit and disbursements. Shipments must be declared on GR/SDF forms. Agency commission is ordinarily not payable under the LOC, but commissions up to five percent for exports requiring after sales services may be approved subject to prior regulatory approval and must be deducted from invoices, with the reimbursable amount limited to ninety per cent of invoice value; exporters may otherwise use own funds or EEFC balances for commission payments. Circulars FEMA Fri, 18 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/circulars?id=12039