Is the reimbursement of expenditure incurred in the past a permissible end-use under the ECB framework?

Is the reimbursement of expenditure incurred in the past a permissible end-use under the ECB framework? https://www.taxtmi.com/manuals?id=5845 Reimbursement of expenditure incurred in the past is not a permissible end-use under the External Commercial Borrowings (ECB) framework; the ECB/trade-credit regime bars use of borrowed funds to reimburse pre-existing expenses, requiring that financing be applied only to authorised operational or capital purposes. en-us Thu, 21 Nov 2024 14:19:00 +0530 Thu, 21 Nov 2024 14:19:00 +0530 TaxTMI RSS Generator Is the reimbursement of expenditure incurred in the past a permissible end-use under the ECB framework? https://www.taxtmi.com/manuals?id=5845 Reimbursement of expenditure incurred in the past is not a permissible end-use under the External Commercial Borrowings (ECB) framework; the ECB/trade-credit regime bars use of borrowed funds to reimburse pre-existing expenses, requiring that financing be applied only to authorised operational or capital purposes. Manuals FEMA Thu, 21 Nov 2024 14:19:00 +0530 https://www.taxtmi.com/manuals?id=5845