https://www.taxtmi.com/forum/issue?id=109001 AD Category I bank may allow payment of interest on usance bills or overdue interest on delayed payments for under three years at the trade credit rate. On pre payment of usance import bills, remittances must deduct proportionate interest for the unexpired usance at the claimed rate or the invoice currency LIBOR; if interest is not separately claimed, deduction is at the prevailing LIBOR of the invoice currency. en-us Fri, 07 Aug 2015 10:38:45 +0530 Thu, 23 Jan 2025 15:56:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=109001 AD Category I bank may allow payment of interest on usance bills or overdue interest on delayed payments for under three years at the trade credit rate. On pre payment of usance import bills, remittances must deduct proportionate interest for the unexpired usance at the claimed rate or the invoice currency LIBOR; if interest is not separately claimed, deduction is at the prevailing LIBOR of the invoice currency. Discussion-Forum FEMA Fri, 07 Aug 2015 10:38:45 +0530 https://www.taxtmi.com/forum/issue?id=109001