https://www.taxtmi.com/circulars?id=53599 Government-supported Line of Credit for procurement of defence vessels requires eligible exports under the Foreign Trade Policy, mandates that at least seventy-five percent of contract value (including consultancy) be supplied from India with limited foreign procurement for non-consultancy goods, prescribes distinct deadlines for opening letters of credit and disbursement depending on contract type, requires declaration of shipments on prescribed export forms, disallows agency commission under the LOC while permitting exporter-funded commission under prevailing remittance rules, and directs authorised dealers to inform exporters and obtain LOC details; directions issued under the foreign exchange management statute. en-us Thu, 18 Jun 2015 00:00:00 +0530 Thu, 18 Jun 2015 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=53599 Government-supported Line of Credit for procurement of defence vessels requires eligible exports under the Foreign Trade Policy, mandates that at least seventy-five percent of contract value (including consultancy) be supplied from India with limited foreign procurement for non-consultancy goods, prescribes distinct deadlines for opening letters of credit and disbursement depending on contract type, requires declaration of shipments on prescribed export forms, disallows agency commission under the LOC while permitting exporter-funded commission under prevailing remittance rules, and directs authorised dealers to inform exporters and obtain LOC details; directions issued under the foreign exchange management statute. Circulars FEMA Thu, 18 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/circulars?id=53599