Dear Sir,
ABC private Limited did some export of IT services. The US customer has sent the amount in INR to India. There is option in the US bank to remit USD or INR. By mistake customer has selected INR option.
Now Can I treat the service as export of service even if amount is received in INR from abroad.
If it can not be tretaed as export of what is the taxable payable on my out ward supplies.
Please clarify.
Clarification Sought on INR Payment for IT Services Export Under GST; C.B.I. & C. Circular Referenced for Guidance. ABC Private Limited exported IT services to a US customer who mistakenly remitted the payment in INR instead of USD. The company seeks clarification on whether this transaction can be treated as an export of services under GST regulations and the applicable tax if it cannot. A respondent referred to a specific circular from the Central Board of Indirect Taxes and Customs (C.B.I. & C.) for guidance. The original inquirer expressed gratitude for the reference, indicating that it provided the needed clarification. (AI Summary)
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