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Advance against Incentives : When the value of the materials to be procured for export is more than FOB value of the contract, the exporters may get packing credit advance more than the FOB value of the goods. The excess of cost of production over the FOB value of the contract represents incentives receivables. For example, when the domestic price of goods exceeds the value of export orders, the difference represents Duty drawback entitlement. Banks can grant advances against duty drawback at pre-shipment stage subject to the condition that the loan is covered by Export Production Finance Guarantee of Export Credit Guarantee Corporation (ECGC). This guarantee enables banks to sanction advances at the pre-shipment stage to the full extent of cost of production. The extent of cover and the premium are the same as for packing credit guarantee.
Income-Tax Exemption: In order to promote exports, tax incentives are granted under the Income-Tax Act. The major incentives are : 1) All export profits derived from export of
Agency Commission on Exports : Authorised dealers may allow payment of commission, either by remittance or by deduction from invoice value, on application submitted by the exporte
Identify three or more of the secondary sources of information available to REI.
METHODS OF DEALING WITH FOREIGN EXCHANGE RISKS A firm can deal with foreign exchange risks in the following ways: 1) Taking Risk: The firm may decide to bear the risk if t
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