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CONSIDERATION RECEIVED IN INR FOR EXPORT OF SERVICE UNDER GST REGIME

Goods and Services Tax - GST - By: - Shripada Hegde - Dated:- 10-6-2017 - One of the controversies or discrepancies attached with the Export of Service under the present taxation system for services is the receipt of consideration or payment in INR. .....

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ed. Before the incorporation of Rule 6A, export of services were governed by Export of Service Rules, 2005. One of the conditions is that the payment for the services rendered has to be received in Convertible Foreign Exchange. In the real world of b .....

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isfied, will the service be considered as Export of Service ? In order to answer this question it is important to note some judgement of judicial authorities. Sun-Area Real Estate Pvt. Ltd. Vs. Commissioner of Service Tax, Mumbai-I [ 2015 (5) TMI 885 .....

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dia, payment in rupees from the account of a bank situated in any country outside India maintained with an authorised dealer, the payment in rupees shall be deemed to have repatriated the realized foreign exchange to India as per para 4 of Notificati .....

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a manner of receipt of foreign exchange. Relying on the Judgement of the apex court in case of J.B. Boda and Company the authority has expressed an opinion that when a foreign bank is maintaining Indian rupees in their account obviously, such Indian .....

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in the case of AGM India Advisors Pvt. Ltd. Vs. Commissioner of Service Tax [ 2015 (10) TMI 2411 - CESTAT MUMBAI ] Thus one can come to a conclusion that even though the payment is received in INR, the condition relating to foreign exchange is fulfil .....

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vice under Section 2(6) of IGST Act. The said sub-section is reproduced below. (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 .....

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nts of a distinct person in accordance with Explanation 1 in section 8 It can be noted that the condition related to receipt in foreign exchange remains the same except the fact that it has been incorporated as definition. Further, no separate defini .....

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