Export - Zero Rated supply - Whether amount received from the Foreign Currency (Non-Resident) account or Non-Resident External Account known as FCNR/NRE account maintained by the buyer can be treated as received in convertible foreign exchange for claiming benefit under GST

Section - 02 - Definitions.

THE INTEGRATED GOODS AND SERVICES TAX ACT, 2017

As per Regulation 4 of the FOREIGN EXCHANGE MANAGEMENT (MANNER OF RECEIPT AND PAYMENT) REGULATIONS, 2000, an exporter is permitted to receive the payment through alternative mode.

Since FCNR / NRE account has been specified therein, in the opinion of the author, it may be treated as received in convertible foreign exchange if the payment is received from FCNR/NRE account of the buyer. 

Government should come out to clarify the matter in order to avoid difficulty in such situations.

Dated: 9-5-2017