Sale Date Ended
FEMA 1999 & International Trade - Export/ Import of Goods & Services & Remittances - Workshop With Case studies.
With the liberalization of economy, Govt of India, through Reserve Bank relaxed most of the regulations in order to boost the international trade. In short introduce a larger globalization process. From the time FEMA was introduced from June 2000, till today lot of relaxations have been introduced by Reserve Bank for smooth facilitation of interalia, trade. In most of the cases exchange control administration are decentralized and the Authorized Dealers are given discretionary powers to handle the transactions.
In case of exports, dispatch of documents directly to consignee, reduction in invoice value, write off, netting off export receivables, allowing export through ware house abroad, agency commission remittance, export claims, handling advance remittance and delayed presentation of regulatory documents etc the powers are delegated to authorized dealers in settling the transaction.
Likewise, import transactions are also liberalized such as advance remittance for imports, handling trade credit transactions (supplier’s credit /buyer’s credit) are under the delegated powers of the authorized dealers.
Regarding outward remittances Authorised Dealers are delegated with powers to handle most of the current account transactions.
In spite of the. delegated authority, still there are some gaps in understanding and interpreting the FEMA guidelines.
This seminar will specifically address the issues relating to :
* Clear distinction between current and capital account transactions
* Export related regulatory issues – trade discount, reduction in invoice value, GR waiver, dispatch of documents directly to the consignee, advance remittance, write off, netting, avoiding overdue interest in export bills discounting.
* Import related regulatory issues – time limit for import payment, interest payments, advance remittance for imports, import of services, trade credit – suppliers credit and buyers credit –
* Guarantees – different types of guarantees – RBI guidelines on guarantees and bankers acceptance facility.
* External Commercial Borrowing and Trade credits.
* Exim Banks Line of credit agreement with underdeveloped countries – how to take advantage of this line of credit facility to mitigate the country risk and counter party risk.
Who should attend this workshop:
* Managers who are handling exports, banking and regulatory compliance.
* Managers who are handling imports and remittances.
* Procurement department dealing with imports.
* Finance personnel who deal with banks and regulatory authorities.
Fees: Rs. 7,500/- +10.3 % service tax per person; Fees includes lunch, tea, course material etc.