Export of services payment via Special Rupee Vostro accounts qualifies under IGST export payment condition. Payments credited to Special Rupee Vostro Accounts opened by AD banks, under RBI's rupee settlement mechanism and the Foreign Trade Policy procedures, shall be regarded as satisfying the IGST export payment condition where exporters are paid export proceeds in Indian rupees from balances in designated correspondent bank Special Vostro Accounts, subject to applicable RBI and Foreign Trade Policy conditions and other statutory 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 payment via Special Rupee Vostro accounts qualifies under IGST export payment condition.
Payments credited to Special Rupee Vostro Accounts opened by AD banks, under RBI's rupee settlement mechanism and the Foreign Trade Policy procedures, shall be regarded as satisfying the IGST export payment condition where exporters are paid export proceeds in Indian rupees from balances in designated correspondent bank Special Vostro Accounts, subject to applicable RBI and Foreign Trade Policy conditions and other statutory permissions.
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