Credit Facility from Bank
This query is : Resolved
21 July 2021
Company has export debtors and wish to avail Cash credit against security of export debtors. Company do not want foreign bill discounting. Is it possible.
21 July 2021
Finance against Export Debtors comes under purview of Export Finance hence it is governed by Master circular of RBI RBI/2015-16/47 dated July 1, 2015 hence Finance can be given under Foreign Bill Discounting which may also have cover of ECGC .Hence allowing Cash Credit will not be possible. Secondly enforcing Hypothecation against Overseas debtors will be difficult hence it does not remain acceptable security. Therefore allowing Cash Credit is a risky proposition for Banks.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS DEMAND.
- Joint Account Closure
- TDS-Fixed assets
- 139(4) for ITR-5- audit
- RCM PAID ON RENT IN RESTAURANT BUSINESS @ GST RATE 5%
- Importer's TIN number in commercial invoice
- TDS can We Adjust 194C Amount to 194J
- Registartion of trust
- Reversal of unutilized ITC can be paid through ITC
- NATURE OF PENALTY AND INTEREST UNDER TAXATION
- REGARDING NATURE OF EXPENDITURE.
- HOW TO AMEND THE INVOICE NO
- Claiming TDS credit of unclaimed TDS of past years
- GST APPLICABILITY FOR PLANTS
- OMR sheet / MCQ booklet no / error
- Due Rs12 lakhs written as bad debts in my books of accounts
- Availment of GST Input
- HELP-1st Group final exam for old student
- Ammended B2B invoice not displayed in GST2B
- TDS OR GST APPLICABLITY
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert14 February 2025 -
Survey, Search and Seizure under Income Tax Act 1961
CA Hari Agarwal
CAclubindia
