Payments received from Nepal

[Arti Gupta]

Sir,

Kindly state the provisions where the benefit of Foreign Trade Policy is applicable for the Exports made to Nepal and payment is received in :

(a)INR

(b)Freely Convertible Currency

(c) Nepalese rupee

Thanks in advance.

AI Summary

Exports to Nepal parity: incentives and advance authorization benefits apply even when proceeds received in local currency via VASTRO.
Exports to Nepal are at par with other countries and qualify for export incentives under Group C eligibility. Advance authorization and excise-related benefits require filing the Bill of Export or shipping bill as the export document. Payments realized in Indian rupees routed through a VASTRO account were indicated as eligible for the export benefits, subject to documentary compliance.