TaxTMI 
TaxTMI 
Project Export and services Expots
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.... civil construction contracts abroad are collectively referred to as 'Project Exports'. Project export contracts are generally of high value and exporters undertaking them are required to offer competitive credit terms to be able to secure orders from foreign buyers in the face of stiff international competition. Indian exporters offering deferred payment terms to overseas buyers in respect of exp....
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....lant / factory along with supply of machinery, equipment and materials. "Civil Construction Contracts" * Execution of civil construction contracts abroad involves mainly erection and civil construction work and supply of construction materials and equipment going into the civil works. Period of deferred credit * The periods for which credit may be offered for export of goods, consumer durab....
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....t before actual execution of the project. * After entering into contract, the exporter should submit to his bankers an application in form DPX-1 (in respect of turnkey and deferred payment supply contracts) or in form PEX-1 (in respect of civil construction contracts), as the case may be, in six copies along with six copies of the contract. * Authorised Dealers should deal expeditiously with a....
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....val, the same may be issued by an authorized dealer bank/ a person resident in India being an exporting company, for performance of a project outside India, or for availing of credit facilities, whether fund-based or non-fund based, from a bank or a financial institution outside India in connection with the execution of such project, provided that the contract / Letter of Award stipulates such req....