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Remittances Connected with Exports : Exporters are permitted to retain upto 25% (50% in the case of EOUs located in EPZI Software Technology Parks/Electronics Hardware Technology Parks) of the receipts from export of goods in a foreign currency account with an authorised dealer in India. This account is known as Exchange Earners Foreign Currency (EEFC) account. According to the Monetary Policy (announced on October 22, 1997), Exporters are allowed to retain 50% of their exchange earnings in the EEFC account as against the earlier 25%. The account may be maintained in any permitted currency and in any form (current, savings without cheque facility or term deposit account). The balances in these accounts may be utilised for all bonafide payments of the account holder. Exporters maintain foreign Currency Accounts are not allowed to maintain EEFC accounts.
Customs Clearance Stages: There are four stages of customs involvement. These are: 1) Processing of documents at the Customs House i.e. the main office. This stage involves:
Realisation of Export Proceeds: If an exporter does not realise the export proceeds within the time specified by the Reserve Bank of India, he shall be liable to action in accorda
Commercial Perspective : Trade between two business firms located in different countries begins with the conclusion of an export contract. Under the contract, the duty of the expo
These roadblocks are able to be removed by applying lifestyle & psychographic segmentation. When motivations, attitudes, personality characteristics and belief systems are analyzed
Definition of Exchange Rate : A foreign exchange rate is simply the price of one country's money in terms of another country's money. In other words, the rate at which one country
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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
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