Tax Management India. Com
                        Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Articles News
D. Forum
What's New


Discussions Forum
Home Forum Goods and Services Tax - GST This
A Public Forum.
Anyone can participate to share knowledge.
We acknowledge the contributions of Experts/ Authors.

Submit new Issue / Query

← Previous Next →

Export Proceeds realised in INR, Goods and Services Tax - GST

Issue Id: - 117368
Dated: 21-7-2021
By:- Nikhil Agrawal
Export Proceeds realised in INR

  • Contents

Dear Sir/Ma'am,

Hope all are doing well !

Case:- Client has provided service to a foreign company & raised the invoice in foreign currency. The export proceeds for the same were received in INR through the establishment of a foreign company in India, also the bank has not issued FIRC for the same.

Que. 1- Will it be treated as Export?

Post Reply

Posts / Replies

Showing Replies 1 to 4 of 4 Records

1 Dated: 21-7-2021

Dear Nikhil Ji,

2 (6) "export of services means the supply of any service when,––

(i) the supplier of service is located in India;

(ii) the recipient of service is located outside India;

(iii) the place of supply of service is outside India;

(iv) 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;

Hence you may receive the payment in INR.

Further kindly refer Circular No. 88/07/2019-GST and the allied circulars.

2 Dated: 21-7-2021


You must be worried regarding the situation "where the payment is received by the foreign establishment in India". Whether such payment will fall under the definition of export of services? The answer to this question lies in RBI Circular. RBI Circular has stated situation when such payment is recognized as receipt of export.

Check your details and see whether your case falls under the RBI Circular. The entire logic for this comes from the definition itself, relevant part, 'in Indian rupees wherever permitted by the Reserve Bank of India'. Thus you need to see whether RBI has permitted such payment in INR.

3 Dated: 21-7-2021

I support the views of Sh.Abhshek Tripathi, Sir.

4 Dated: 21-7-2021

Whether the query is in regard to GST?


Post Reply

← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||