STATUS OF TRANSACTION UNDER GST

[SURYAKANT MITHBAVKAR]

If we received remittance in Indian (Rs) currency from Nepal does we treat that export transaction and clear under LUT.

AI Summary

Clarification sought on treating remittance in Indian Rupees from Nepal as export under GST and LUT requirements. A user inquired whether receiving remittance in Indian Rupees from Nepal should be treated as an export transaction and cleared under a Letter of Undertaking (LUT) under the Goods and Services Tax (GST) framework. The response indicated that this query had been previously addressed in the forum in July 2017, suggesting that the user refer to that discussion for detailed conditions related to the transaction.