https://www.taxtmi.com/circulars?id=65954 Exim Bank provided a Short-Term Line of Credit to Banco Exterior de Cuba to finance rice procurement from India, permitting exports of eligible goods and services subject to the Foreign Trade Policy. At least 75 per cent of the contract price must be supplied from India and up to 25 per cent may be procured abroad. The facility is subject to an eight-month terminal utilization period; shipments must be declared in Export Declaration Form/Shipping Bill. No agency commission is payable under the STLoC, and AD Category I banks must notify exporters and permit commission remittances only after realisation and compliance with extant rules. Directions are issued under FEMA. en-us Thu, 20 Oct 2022 00:00:00 +0530 Thu, 20 Oct 2022 16:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=65954 Exim Bank provided a Short-Term Line of Credit to Banco Exterior de Cuba to finance rice procurement from India, permitting exports of eligible goods and services subject to the Foreign Trade Policy. At least 75 per cent of the contract price must be supplied from India and up to 25 per cent may be procured abroad. The facility is subject to an eight-month terminal utilization period; shipments must be declared in Export Declaration Form/Shipping Bill. No agency commission is payable under the STLoC, and AD Category I banks must notify exporters and permit commission remittances only after realisation and compliance with extant rules. Directions are issued under FEMA. Circulars FEMA Thu, 20 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/circulars?id=65954