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ROLE OF EXPORT IMPORT BANK: Export-Import Bank of India was set up in 1982, for the purpose of financing, facilitating and promoting foreign trade of India. It is the principal financial institution the country for coordinating working of institutions engaged in financing exports and imports. The major functions of EXIM bank are as follows:
Finance: The present focus of Exim Bank is on export finance. The Bank finances export of Indian machinery, manufactured goods, and consultancy and technology services on deferred payment terms. Exim Bank finance is also available at export production stages.
Services: EXIM Bank provides information, advisory services to enable exporters to evaluate the international risks, export opportunities and competitiveness.
Research & Analysis: research & Analysis carried out on specific industry subsectors with export potonial, and international trade related subjects are provided to exporters.
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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
Denomination of Export Contracts: All export contracts and invoices shall be denominated in freely convertible currency and export proceeds shall be realised in freely convertible
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