Condonation of delay in filing GSTR-3B returns and entitlement to Section 62 benefit results in withdrawal of assessments and revocation of attachment...
Refund claim of Cenvat credit for input services used in export was contested on realization of export proceeds; the article explains that payment received in Indian rupees from a foreign bank account through authorised banking channels (including Vostro accounts) constitutes deemed repatriation of realized foreign exchange and may be evidenced by a Foreign Inward Remittance Certificate. Applying the tribunal ratio cited, the condition for export realisation is satisfied and orders denying the refund were set aside, with consequential reliefs as per law.
Refund claim of Cenvat credit for input services used in export was contested on realization of export proceeds; the article explains that payment received in Indian rupees from a foreign bank account through authorised banking channels (including Vostro accounts) constitutes deemed repatriation of realized foreign exchange and may be evidenced by a Foreign Inward Remittance Certificate. Applying the tribunal ratio cited, the condition for export realisation is satisfied and orders denying the refund were set aside, with consequential reliefs as per law.
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