TMI Blog2018 (4) TMI 25X X X X Extracts X X X X X X X X Extracts X X X X ..... qualifies as export only when convertible foreign exchange is received - In the present case, the appellant has admittedly filed the refund claim within one year from the receipt of convertible foreign exchange - the relevant date is the date of FIRC and not the date of service. Whether the remittance received against the export in Indian rupees will be considered as receipt of convertible for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en from the date of receipt of foreign exchange i.e. date of FIRC or from the date of invoice; (ii) Whether the remittance received against the export in Indian rupees will be considered as receipt of convertible foreign exchange for the purpose of qualifying the supply of service as export. 2. Shri D. Shinde, learned Assistant Commissioner (AR) appearing on behalf of the Revenue, reitera ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onvertible foreign exchange. Therefore, the date of receipt of foreign exchange or date of FIRC should be the relevant date and the appellant has filed the refund claim on 29.6.2014 as against the FIRC date i.e. 7.7.2014 and 11.7.2014. Therefore, the refund is in time. As regards the receipt of service charges in Indian rupees, he submits that the payment was received through HSBC Bank. In case of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n-Area Real Estate Pvt. Ltd. (supra) wherein in the identical facts, it was held that the Indian rupees received through foreign bank is considered as the payment in convertible foreign exchange. The aforesaid judgment was given by considering the various provisions of the Reserve Bank of India and Foreign Exchange Management Act. Therefore, the issue on this count is no longer res integra . ..... X X X X Extracts X X X X X X X X Extracts X X X X
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