https://www.taxtmi.com/circulars?id=56681 Exim Bank's Government of India supported Line of Credit to Kenya finances exports of eligible goods and services for an agricultural mechanization project, requiring that a substantial majority of contract goods and services be supplied from India with a limited portion procured abroad. Shipments must be declared on the Export Declaration Form; agency commission is not payable under the LoC though exporters may pay commission from their own resources or Exchange Earners' Foreign Currency Account after realization. AD Category I banks must notify exporters, facilitate permitted remittances, and obtain full LoC details from Exim Bank. Directions issued under the Foreign Exchange Management Act remain subject to other legal permissions. en-us Thu, 25 Jan 2018 00:00:00 +0530 Thu, 25 Jan 2018 17:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=56681 Exim Bank's Government of India supported Line of Credit to Kenya finances exports of eligible goods and services for an agricultural mechanization project, requiring that a substantial majority of contract goods and services be supplied from India with a limited portion procured abroad. Shipments must be declared on the Export Declaration Form; agency commission is not payable under the LoC though exporters may pay commission from their own resources or Exchange Earners' Foreign Currency Account after realization. AD Category I banks must notify exporters, facilitate permitted remittances, and obtain full LoC details from Exim Bank. Directions issued under the Foreign Exchange Management Act remain subject to other legal permissions. Circulars FEMA Thu, 25 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/circulars?id=56681