https://www.taxtmi.com/circulars?id=64317 Government-supported Line of Credit to Malawi authorises Exim Bank financing of eligible Indian exports for drinking water and development projects, subject to Foreign Trade Policy eligibility and Exim Bank approval. Contracts must source at least 75 per cent of goods, works and services from India, with up to 25 per cent procured abroad. The LoC is effective from September 2020 with a terminal utilization period of 60 months after scheduled project completion. Shipments must be declared in the Export Declaration Form. No agency commission is payable under the LoC, though exporters may use own funds or EEFC balances for commission remittance after realisation, subject to AD Category I bank rules. Directions are issued under FEMA. en-us Thu, 17 Sep 2020 00:00:00 +0530 Fri, 18 Sep 2020 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=64317 Government-supported Line of Credit to Malawi authorises Exim Bank financing of eligible Indian exports for drinking water and development projects, subject to Foreign Trade Policy eligibility and Exim Bank approval. Contracts must source at least 75 per cent of goods, works and services from India, with up to 25 per cent procured abroad. The LoC is effective from September 2020 with a terminal utilization period of 60 months after scheduled project completion. Shipments must be declared in the Export Declaration Form. No agency commission is payable under the LoC, though exporters may use own funds or EEFC balances for commission remittance after realisation, subject to AD Category I bank rules. Directions are issued under FEMA. Circulars FEMA Thu, 17 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/circulars?id=64317