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Exchange Control: Exchange control means official intervention with the foreign exchange of a country. It is a system of rationing foreign exchange among competing demands for it, affected by controlling the receipts and payments thereof. The control of receipts aims at centralising the country's means of extremely payments in a common pool in the hands of its monetary authorities. Reserve Bank of India is the monetary authority in India. It facilitates judicious use of foreign exchange. The control of payments aims at restraining the demand for foreign exchange broadly in consonance with the national interests within the limits of available resources.
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INTRODUCTION : Exchange Control is another important area of international trade. The term exchange control applies to the rules and regulations designed to regulate transactions
Excise Rebate Policy : The scheme under which the Central Excise exemption or refund is provided is popularly known as Rebate of Central Excise. This scheme operates under Section
NATURE OF EXPORT SALES CONTRACT: Contract is a legal concept. It has been defined in the Section 2(h) of the Indian Contract Act, the other party without any qualification. This p
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STATUTORY BASIS : Exchange control was introduced in India with the outbreak of second World War on September 3, 1939. This was done by virtual of the emergency powers derived u
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Administration of the Act : The exchange control policy is determined in India by the Ministry of Finance Government of India on the basis of The Foreign Exchange Regulation Act,
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