https://www.taxtmi.com/circulars?id=53023 Exim Bank provided a Line of Credit of USD 30 million to finance a rural electrification project in Togo, requiring at least 75 per cent of contract value to be supplied from India and permitting up to 25 per cent procurement from outside India. The Credit Agreement is effective from August 21, 2014 and sets the last dates for opening Letters of Credit and disbursement by reference to contract completion or 72 months from execution for supply contracts. Shipments under the LOC must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may remit commission from their own funds or EEFC balances subject to realization and instructions. AD Category I banks must notify exporters and may obtain details from Exim Bank; directions issued under FEMA. en-us Wed, 24 Sep 2014 00:00:00 +0530 Wed, 24 Sep 2014 18:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=53023 Exim Bank provided a Line of Credit of USD 30 million to finance a rural electrification project in Togo, requiring at least 75 per cent of contract value to be supplied from India and permitting up to 25 per cent procurement from outside India. The Credit Agreement is effective from August 21, 2014 and sets the last dates for opening Letters of Credit and disbursement by reference to contract completion or 72 months from execution for supply contracts. Shipments under the LOC must be declared on GR/SDF forms. No agency commission is payable under the LOC, though exporters may remit commission from their own funds or EEFC balances subject to realization and instructions. AD Category I banks must notify exporters and may obtain details from Exim Bank; directions issued under FEMA. Circulars FEMA Wed, 24 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/circulars?id=53023