Export of services: INR receipts via Special Rupee Vostro Accounts meet the IGST Act payment requirement when RBI/FTP conditions are satisfied. Payments credited to Special Rupee Vostro Accounts of correspondent banks, when effected in accordance with RBI's A. P. (DIR Series) Circular No. 10 and the Foreign Trade Policy 2023 and subject to their conditions and approvals, shall be considered to fulfil the payment requirement in sub clause (iv) of clause (6) of section 2 of the IGST Act for determining export of services.
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: INR receipts via Special Rupee Vostro Accounts meet the IGST Act payment requirement when RBI/FTP conditions are satisfied.
Payments credited to Special Rupee Vostro Accounts of correspondent banks, when effected in accordance with RBI's A. P. (DIR Series) Circular No. 10 and the Foreign Trade Policy 2023 and subject to their conditions and approvals, shall be considered to fulfil the payment requirement in sub clause (iv) of clause (6) of section 2 of the IGST Act for determining export of services.
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