Acceptance of domestic currency payments for EPCG export obligation: specified domestic receipts may count to discharge export obligations. Payments received in Indian rupees by a Tourist Transport Operator may discharge EPCG export obligation where they are: (a) payments from foreigners in rupees with encashment certificates; (b) rupee receipts from travel agents/tour operators earned for services used by foreign tourists (treated as foreign exchange for the service provider), which travel agents/tour operators may not count for their own EPCG EO; (c) rupee payments from foreign airlines against repatriable earnings; and (d) rupee receipts from diplomats, embassies or UN organisations out of convertible foreign exchange.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Acceptance of domestic currency payments for EPCG export obligation: specified domestic receipts may count to discharge export obligations.
Payments received in Indian rupees by a Tourist Transport Operator may discharge EPCG export obligation where they are: (a) payments from foreigners in rupees with encashment certificates; (b) rupee receipts from travel agents/tour operators earned for services used by foreign tourists (treated as foreign exchange for the service provider), which travel agents/tour operators may not count for their own EPCG EO; (c) rupee payments from foreign airlines against repatriable earnings; and (d) rupee receipts from diplomats, embassies or UN organisations out of convertible foreign exchange.
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