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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.
OBJECTIVES After Studying this unit, you should be able to: 1. Describe the procedure of Pre-shipment Credit; 2. Explain various types and procedure of Post-shipment Cr
Scope of the Act : The Foreign Exchange Regulation Act covers the types of transaction having international financial implications. Broadly the Exchange Control regulates the fo
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Once the alternatives have been evaluated the consumer is ready to make a purchase decision. Sometimes purchase intention doesn't result in an actual purchase. The marketing organi
Sales Tax Exemption : Purchase of goods meant for exports are exempted from sales tax including Central Sales Tax. However, the purchaser of goods has to be a registered dealer fo
PURPOSE OF WRITING RESEARCH REPORT Three main purposes are there for writing a research report. These are: i) Writing report for partial fulfillment of your degree. ii)
What is the major difference between quantitative and qualitative research techniques? One of the key aims of qualitative research is to gain preliminary insights into decisio
Explore the implications of changes in the general and marketing environment for organisations (a) How has the current business and economic climate affected your organisation'
Post-shipment Credit in Foreign Currency : The exporters have the option of availing of export credit at the post-shipment stage either in rupee or in foreign currency. The credit
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