| TMI Short Notes |
Export of Services - For claiming exemption from GST or Benefit of Zero Rated supply under GST, whether receipt of consideration / payment in convertible foreign exchange is necessary or mandatory |
THE INTEGRATED GOODS AND SERVICES TAX ACT, 2017 Yes, As per section 2(6) (iv) of the IGST Act, 2017 it is mandatory to receive the amount in convertible foreign exchange. 2(6)(iv) - the payment for such service has been received by the supplier of service in convertible foreign exchange; and
Dated: 9-5-2017
|
