Export of services via Special Rupee Vostro Accounts satisfies the IGST Act payment condition for export classification. Payment received by Indian exporters of services in rupees from designated Special Rupee Vostro Accounts of correspondent banks, pursuant to the RBI A.P. (DIR Series) Circular and Foreign Trade Policy procedures, shall be treated as fulfilling the payment requirement in sub clause (iv) of clause (6) of section 2 of the IGST Act, subject to conditions and approvals under the FTP and extant RBI circulars and without prejudice to other legal permissions.
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.
Export of services via Special Rupee Vostro Accounts satisfies the IGST Act payment condition for export classification.
Payment received by Indian exporters of services in rupees from designated Special Rupee Vostro Accounts of correspondent banks, pursuant to the RBI A.P. (DIR Series) Circular and Foreign Trade Policy procedures, shall be treated as fulfilling the payment requirement in sub clause (iv) of clause (6) of section 2 of the IGST Act, subject to conditions and approvals under the FTP and extant RBI circulars and without prejudice to other legal permissions.
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