Home Forum Customs - Exim - SEZ Month 5 2023 2023 (5) This
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REPATRIATION OF EXPORT - CONVERTIBLE FOREIGN EXCHANGE - Customs - Exim - SEZExtract Section 2(6)(iv) of IGST Act requires that the payment for such service has been received by the supplier of service in convertible foreign exchange or in Indian rupees wherever permitted by the Reserve Bank of India. In one case the exporter did not receive payment for his services but made 'Net Settlement Account' by which the dues of the importer and exporter are set off. Whether such action fulfills the conditions of Section 2(6)(iv) of IGST Act ?
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