Export Proceeds realised in INR

[Nikhil Agrawal]

Dear Sir/Ma'am,

Hope all are doing well !

Case:- Client has provided service to a foreign company & raised the invoice in foreign currency. The export proceeds for the same were received in INR through the establishment of a foreign company in India, also the bank has not issued FIRC for the same.

Que. 1- Will it be treated as Export?

AI Summary

Export of services qualifies when payment received in permitted INR; verify RBI permission and GST circular guidance.
Export of services requires supplier in India, recipient outside India, place of supply outside India, and payment in convertible foreign exchange or in Indian rupees wherever permitted by the Reserve Bank of India; INR receipts qualify only if RBI permits, and GST Circular No. 88/07/2019-GST and related RBI circulars govern recognition and compliance, while absence of FIRC affects evidence rather than the substantive definition.