GST Info Tamil

  53rd GST Council Meeting Update in Tamil  @GSTInfoTamil  ---------------------------------------------------     By   GST Info Tamil     YouTube link for more tax update     https://www.youtube.com/gstinfotamil?sub_confirmation=1   WhatsApp update group              https://chat.whatsapp.com/ChcVTsYGAns9fvv16qcd8I                                                                                                          

  Press Conference by Union Finance Minister Nirmala Sitharaman after 53rd GST Council Meeting ---------------------------------------------------     By   GST Info Tamil     YouTube link for more tax update     https://www.youtube.com/gstinfotamil?sub_confirmation=1   WhatsApp update group              https://chat.whatsapp.com/ChcVTsYGAns9fvv16qcd8I                                                                                                          

What is a Letter of Credit? An LC is a contract by which a bank guarantees the seller that the buyer will make the payment for the goods and services. The use of LCs to effect payment is widespread in international trade. This is because they offer security of payment for and receipt of goods to the parties involved in the trade transaction who may be in different countries. You can choose from the different types of LCs available according to your specific requirements. What are the different types of Letters of Credit? The different types of Letters of Credit offered by banks in India are as follows: Documentary A documentary LC is an obligation by the issuing bank to pay the agreed amount to the beneficiary (usually the seller) on behalf of the applicant (buyer) upon receipt of specified documents. Sight LC or Usance Credit A sight LC guarantees the payment once the beneficiary (the party which is about to receive the payment) presents the sight LC to the ban...