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TMI BlogExport under LUT and payment in foreign currencyX X X X Extracts X X X X X X X X Extracts X X X X ..... Export under LUT and payment in foreign currency X X X X Extracts X X X X X X X X Extracts X X X X ..... br>In case of export of goods under LUT without payment of GST, is there a pre - condition of receipt of payment in foreign currency? If yes under which provisions? Reply By Amit Agrawal: The Reply: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In my personal view, there is no such pre-condition to receive convertible foreign exchange to qualify as 'Export of Goods' under GST law (i.e. for supplying goods physically out of India wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hout paying any GST, under LUT). Of-course, you need to fulfill FEMA / RBI requirements as applicable. But, same is separate issues/s related to different law / regulations and they are not linked t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o subject discussion here (i.e. for supplying goods physically out of India without paying any GST, under LUT) in my view. All above are strictly personal views of mine and the same should not be co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nstrued as professional advice / suggestion. Reply By Rajagopalan Ranganathan: The Reply: Sir, According to Section 2 (6) of IGST Act, 2017, only in respect of export of service the payment for suc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h service is to be received by the supplier of service in convertible foreign exchange or in Indian rupees wherever permitted by the Reserve Bank of India. For export of goods such condition is not ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plicable. X X X X Extracts X X X X X X X X Extracts X X X X
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