1.9 billion USD means how many rupees? IN A CURRENT DATE

I read the following regarding the process involved in issuing an LC

> Sales contract entered into by buyer(importer) and seller (exporter)
> Importer applies to open LC in favour of the exporter
> Issuing bank issues LC which reaches the beneficiary's bank
> Beneficiary's bank advises the letter of credit to the beneficiary
> If letter of credit conditions seem reasonable to the beneficiary then beneficiary starts producing the goods in order to make the shipment
> The beneficiary ships the order according to the terms and conditions stated in the credit.
> When the goods are loaded, the exporter collects the documents, which are requested by the credit and forwards them to his bank.
> Beneficiary's bank sends these documents to the issuing bank. The issuing bank checks the documents according to the terms and conditions of the credit.
> If the documents are found complying after the examination the issuing bank honors the payment claim.
> The documents transmit to the applicant. The applicant uses these documents to clear the goods from the customs.

Now my question is whether the beneficiary's bank can take the shipping documents from the beneficiary without making his payment?
will the exporter wait for receiving his payment for the time involved in remitting the documents from his bank to the issuing bank, the time taken by issuing bank in verifying the documents, collecting payment from importer, remitting the payment to beneficiary's bank and finally to the beneficiary? or beneficiary's bank will make payment to the beneficiary on receipt of shipping documents and later recover the same from the issuing bank?
Also how will the above process in case of usance LC of say 90 days?

Please reply at the earliest.

Thanking You.

I represent a Pharma Consultancy Company providing end to end GxP solutions to pharma companies globally.
One such overseas project has encountered a Tax liability at source on our Professional Fee paid in milestones as per Consulting Agreements.

Request Forum to advise on how DTAA between India & South Korea functionally assists in this scenario.

Can we ask the Korean counterpart to process all remittances after absorbing all such taxes on their books to their cost without impact on fee??

Request your expedited suggestion and valuable advice ASAP

DEAR SIR

I HAVE REGISTERED AS AN ARTICLE ON 20-04-2011 WHICH IS COMPLETED ON 20-04-2014. I HAVE CLEARED MY BOTH GROUP OF CA FINAL. NOW, I WANT TO PURSUE GMCS COURSE WHICH IS PENDING TILL NOW. WHAT SHALL I DO NOW. PLEASE REVERT ME FOR EXPLAINING ALL THE PROCEDURE IN RESPECT OF GMCS COURSE. FURTHER, IF THERE IS ANY OTHER REQUIREMENT IN RESPECT OF INSTITUTE SHALL GUIDE ME


THANKS AND REGARDS

Hi, I am setting up a school in MP and would like to set up a trust for that. Can someone please tell me the following:
a. Share a draft copy of the Trust deed?
b. Where does the deed get registered? In Bhopal or from the District Collector?
c. What value of stamp paper does one get it made on?
d. The Trust does not own any land or property and the school will function from rented premises. I had read somewhere that there needs to be property to form a Trust. Can someone please confirm?
e. Does it need to be a public charitable trust or a private trust will do?
f.If I wish to raise grant money, what is a better form of the above two?
g. Would I need to separately apply for IT exemption once the Trust is formed?
h. Can Trustees be paid a salary? What is the tax rate on this?

Thanks

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the shareholders at an annual general meeting passed a resolution for payment of dividend at a rate higher then that recommended by th directors. it is validity of resolution under the companies act 2013

Please clarify my doubt

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