TaxTMI 
TaxTMI 
SEZ development commissioner is refusing to give MEIS for exports made under vostro account in INR. A bank certificate also submitted stating that the amount received from Vostro account and the same is also endorsed on e-BRC.
MEIS - claim under Vostro account in INR
29 May 2018 
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MEIS eligibility for exports with payment realized in INR via vostro account affirmed as permissible under FTP provisions.
Eligibility for MEIS where export proceeds are realized in INR via a vostro account is supported by the Foreign Trade Policy provision permitting INR realization through such accounts; submission of a bank certificate and e-BRC endorsement evidencing receipt should satisfy documentary requirements, and no separate notification is required to validate claims, although exporters may need to represent to the trade authority when administrative refusal occurs. (AI Summary)
Eligibility for MEIS where export proceeds are realized in INR via a vostro account is supported by the Foreign Trade Policy provision permitting INR realization through such accounts; submission of a bank certificate and e-BRC endorsement evidencing receipt should satisfy documentary requirements, and no separate notification is required to validate claims, although exporters may need to represent to the trade authority when administrative refusal occurs. (AI Summary)