Friends/Seniors
I have a query on export of goods and services under FEMA.
Where an export of goods or services is proposed to be made on deferred payment terms or in execution of a turnkey project or a civil construction contract, the exporter shall before entering into any such export arrangement, submit the proposal for prior approval of the 'approving authority', which shall conisder the proposal in accordance with the guidelines issued by RBI.
Here the approving authority means EXIM bank or AD bank.
My question is what is meant by the term deferred payment basis used here. Can you give an example please.
Regards
Dipjyoti
CAclubindia
