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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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OBJECTIVES After studying this unit, you should be able to: 1. Explain the objectives of exchange control; 2. Describe the principal provisions of Foreign Exchange Regula
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FOREIGN EXCHANGE REGULATION CONCERNING EXPORTS : Export of goods is the most important foreign exchange earner for the country and the law provides that foreign exchange in paymen
Export of Goods Under Bond Under Rule 13 : The exporters have been permitted to export the excisable goods without the payment of Central Excise duty. Exporters are required to
DUTY DRAWBACK SCHEME: The scheme of Duty Drawback is governed by the 'Customs and Central Excise Duties Drawback Rules' compiled and notified by 'Drawback Directorate' of the Depa
Documentary Requirements For movement of goods by air or by sea, the customs permission for shipment is given on a prescribed document, known as Shipping Bill. In other cases (
Export promotion Capital Goods Scheme: Capital goods both new and second hand, may be imported under the Export promotion Capital Goods (EPCG) Scheme. The import of second hand ca
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