Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: articles on VAT and GST in India :: cpt :: VAT Audit :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: form 3cd :: TDS :: VAT RATES :: due date for vat payment :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
« Latest Circulars »
 Investment under PIS in M/s Eris Lifesciences Ltd. By FII/FPI Investment limit from 24 to 49 per cent and increase in NRI limit from 10 to 24 per cent
  Auction for Sale (Re-issue) of Government of India Floating Rate Bonds 2024
 Auction of Government of India Dated Securities August 21, 2017
 RBI to conduct 7 day Variable rate Reverse Repo auctions under LAF on August 21, 2017
 Resolution of Stressed Assets: Towards the Endgame (Urjit R. Patel, Governor - August 19, 2017 - Inaugural Session of the “National Conference on Insolvency and Bankruptcy: Changing Paradigm”, Mumbai)
 Eligible Credit Rating Agencies- Rating of Fixed Deposits by Infomerics Valuation and Rating Private Limited (IVRPL)
  Appointment of nominated counsel in the Hon’ble High Court of Delhi at New Delhi- Compliance of the Order dated 21.07.2017
 RBI-Core Banking Solution (CBS) Requirements for Urban Co-operative Banks (UCBs)
 RBI-Interest Subvention Scheme for Short Term Crop Loans during the year 2017-18
 Appointment of nominated counsel in the Hon’ble High Court of Delhi at New Delhi- Compliance of the Order dated 21.07.2017
 RBI releases Data on India’s International Trade in Services: June 2017

Exim Bank's Line of Credit of USD 250 million to the Government of Mozambique
December, 28th 2012

RBI/2012-13/350
A.P. (DIR Series) Circular No. 65

December 27, 2012

To

All Category - I Authorised Dealer Banks

Madam / Sir,

Exim Bank's Line of Credit of USD 250 million
to the Government of the Republic of Mozambique

Export-Import Bank of India (Exim Bank) has concluded an Agreement dated September 20, 2012 with the Government of the Republic of Mozambique, making available to the latter, a Line of Credit (LOC) of USD 250 million (USD two hundred fifty million) for financing eligible goods, machinery, equipment and services including consultancy services from India for the purpose of improving the quality of power supply in Mozambique. The goods, machinery, equipment and services including consultancy services from India for exports under this Agreement are those which are eligible for export under the Foreign Trade Policy of the Government of India and whose purchase may be agreed to be financed by the Exim Bank under this Agreement. Out of the total credit by Exim Bank under this Agreement, the goods and services including consultancy services of the value of at least 75 per cent of the contract price shall be supplied by the sellers from India and the remaining 25 percent goods and services may be procured by the sellers for the purpose of Eligible Contract from outside India.

2. The Credit Agreement under the LOC is effective from December 26, 2012 and the date of execution of Agreement is September 20, 2012. Under the LOC, the last date for opening of Letters of Credit and Disbursement will be 48 months from the scheduled completion date(s) of contract(s) in the case of project exports and 72 months (September 19, 2018) from the execution date of the Credit Agreement in the case of supply contracts.

3. Shipments under the LOC will have to be declared on GR / SDF Forms as per instructions issued by the Reserve Bank from time to time.

4. No agency commission is payable under the above LOC. However, if required, the exporter may use his own resources or utilize balances in his Exchange Earners’ Foreign Currency Account for payment of commission in free foreign exchange. Authorised Dealer Category- l (AD Category-l) banks may allow such remittance after realization of full payment of contract value subject to compliance with the prevailing instructions for payment of agency commission.

5. AD Category-I banks may bring the contents of this circular to the notice of their exporter constituents and advise them to obtain full details of the Line of Credit from the Exim Bank’s office at Centre One, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai 400 005 or log on to www.eximbankindia.in.

6. The Directions contained in this circular have been issued under sections 10(4) and 11(1) of the Foreign Exchange Management Act (FEMA), 1999 (42 of 1999) and are without prejudice to permissions / approvals, if any, required under any other law.

Yours faithfully,

(Rashmi Fauzdar)
Chief General Manager

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Company Overview

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions