MILIND GUMASTE (AM) (108 Points)
16 August 2010Dear Friends
I have an export order and have taken forward cover against the same
I also wish to take a Packing Credit from my bank against the same Purchase Order
Is it a valid transaction as per RBI and can I avail the same
Pl guide me suggest material to substantiate
TR
Milind
Ramesh
(Manager - Finance & Accounts)
(92 Points)
Replied 16 August 2010
Dear Milind,
Certainly it is a valid one, you can go-ahead without hesitation, the rate of interest of EPC is much less when compare to working capital loans.
Regards,
Ramesh P.
MILIND GUMASTE
(AM)
(108 Points)
Replied 16 August 2010
| Originally posted by : Ramesh P. | ||
 |
Dear Milind, Certainly it is a valid one, you can go-ahead without hesitation, the rate of interest of EPC is much less when compare to working capital loans. Regards, Ramesh P. |
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Thanks Ramesh
but When I had taken Fwd Cover, I had already sold future expected currency to my bank and if i need to take packing credit on the same PO, again I am selling my future currency to bank
will it be a valid transaction, if yes can you suggest me to some material which will substantiate
TBR
milind
CAclubindia
