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of <h1>Gujarat Tax Circular: Export Services Payments in INR via Special Vostro Accounts Valid Under IGST Act 2017.</h1> The circular issued by the Chief Commissioner of State Tax, Gujarat, clarifies the conditions under which export of services payments received in Indian Rupees (INR) through Special Vostro Accounts are considered valid under the IGST Act, 2017. It states that payments for exported services can be received in INR, as permitted by the Reserve Bank of India (RBI), and still qualify as export of services. This is in line with RBI's guidelines and the Foreign Trade Policy, 2023, which allow trade settlements in INR through designated accounts. Compliance with these provisions ensures the fulfillment of legal conditions for export of services.
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