FEMA 1999 &

International Trade

(Export/ Import of Goods & Services & Remittances)

Workshop With Case studies

12 Jan 2012 - The Westin, MUMBAI

19 Jan 2012 - The Lalit, DELHI

24 Jan 2012 - The Lalit, BANGALORE

Course Contents:

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

UNDERSTANDING FEMA 1999-

An updation

Session	Course contents
1	Introduction to FEMA 1999 – Distinction between current and capital account transactions – Full convertibility of Indian Rupee – Decentralisation of exchange control administration – Role of Authorised Dealers in handling forex transactions - FEMA on remittances – inward remittances – for residents and non residents; Outward remittances – current and capital account remittances
2	FEMA 1999 on export of goods and services – Regulatory compliance – Responsibilities of AD in handling export transactions – Export of services – software exports - Time limit for presentation of export documents – time limit for realiazing export payments – change of buyer – extension of time limit – export write off – handling export advance remittances – netting off – direct dispatch of documents to the consignee – GR Waiver – export related remittances – legal expenses, export claims, storage and warehousing charges, demurrage and agency commission,
3	FEMA 1999 on Import of goods services – handling advance remittances for imports – responsibilities of an authorised dealer in handling import transactions – time limit for import payments – approved method of payments – submission of documentary evidence – reporting system for import remittances – delayed remittances under AD’s discretionary powers, cases to be referred to RBI, difference between high sea sales and merchanting trade – trade credits – suppliers credit and buyers credit
4	FEMA on • Guarantees, bankers acceptance facility and documentary credits • External commercial borrowings and trade credits Line of credit arrangement by Exim Bank of India with underdeveloped countries – an overview Question and answer session

Timings

9:30 am - 5:30 pm , Registration begins at 9:00 am

How to Register

• Fees: Rs. 7,500/- +10.3 % service tax per person
• Please write to register@princetonacademy.in / Call -022 66976892
• Mention the name of participant, company, contact details .
• Cheque favouring Princeton Academy Mumbai II Pvt. Ltd. payable at Mumbai.
• Fees includes lunch, tea, course material etc.

Register for Seminar

Online Registration form

Contact us

Registered Office Address

Princeton Academy

502 Shalimar Morya Park,Link Road,
Andheri [W], Mumbai - 400053. INDIA
Tel: +91 22 66976892 | Fax: 022 26733060
Email: register@princetonacademy.in

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