Letter of credit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 January 2012
Whether Import LC for Procrement of Stock can be opend more than 180 days. If yes, what will be the procedre.
12 January 2012
A REQUEST LETTER PRESENT TO BANK ALONGWITH INVOICE, PURCHASE ORDER :
The Import Letter of Credit guarantees an exporter payment for goods or services, provided the terms of the letter of credit have been met.
A bank issue an import letter of credit on the behalf of an importer or buyer under the following Circumstances
* When a importer is importing goods within its own country.
*
When a trader is buying good from his own country and sell it to the another country for the purpose of merchandizing trade.
* When an Indian exporter who is executing a contract outside his own country requires importing goods from a third country to the country where he is executing the contract.
The first category of the most common in the day to day banking
MORE INFO:
https://www.eximguru.com/exim/guides/export-finance/ch_3_letter_of_credit_lc.aspx
The Import Letter of Credit guarantees an exporter payment for goods or services, provided the terms of the letter of credit have been met.
A bank issue an import letter of credit on the behalf of an importer or buyer under the following Circumstances
* When a importer is importing goods within its own country.
*
When a trader is buying good from his own country and sell it to the another country for the purpose of merchandizing trade.
* When an Indian exporter who is executing a contract outside his own country requires importing goods from a third country to the country where he is executing the contract.
The first category of the most common in the day to day banking
MORE INFO:
https://www.eximguru.com/exim/guides/export-finance/ch_3_letter_of_credit_lc.aspx
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- TDS Deducted AY-2013-14 Not Reflected in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Invertaded duty struture
- CREDIT NOTES WITHOUT GST
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
