Whether LC can be opened for BO in India for export/import of goods & in case of PO, local LC can be open for purchase of goods locally in India (local purchase of goods to execute a project)?

Whether LC can be opened for BO in India for export/import of goods & in case of PO, local LC can be open for purchase of goods locally in India (local purchase of goods to execute a project)? https://www.taxtmi.com/manuals?id=6370 Letters of credit may be opened for liaison, branch and project offices in India to facilitate export and import of goods, and local letters of credit may be opened for local purchases of goods necessary to execute a project, consistent with the foreign exchange regulatory framework governing foreign entities' offices in India. en-us Tue, 10 Dec 2024 14:36:00 +0530 Tue, 10 Dec 2024 14:36:00 +0530 TaxTMI RSS Generator Whether LC can be opened for BO in India for export/import of goods & in case of PO, local LC can be open for purchase of goods locally in India (local purchase of goods to execute a project)? https://www.taxtmi.com/manuals?id=6370 Letters of credit may be opened for liaison, branch and project offices in India to facilitate export and import of goods, and local letters of credit may be opened for local purchases of goods necessary to execute a project, consistent with the foreign exchange regulatory framework governing foreign entities' offices in India. Manuals FEMA Tue, 10 Dec 2024 14:36:00 +0530 https://www.taxtmi.com/manuals?id=6370