https://www.taxtmi.com/caselaws?id=294745 Receipt of service consideration in Indian rupees through a bank channel outside India, supported by Foreign Inward Remittance Certificates and banking records, was treated as receipt in convertible foreign exchange for refund or export benefit purposes. The Tribunal focused on the substance of the remittance rather than the currency label alone, and accepted that repatriated funds routed through foreign exchange channels can satisfy the regulatory requirement even without a separate formal conversion step. The absence of foreign currency notation on the certificates did not defeat the claim where the remittance trail showed receipt through banking channels. Relief was therefore available on the basis that the receipt qualified as convertible foreign exchange. en-us Thu, 19 Sep 2019 00:00:00 +0530 Fri, 30 Apr 2021 19:57:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294745 Receipt of service consideration in Indian rupees through a bank channel outside India, supported by Foreign Inward Remittance Certificates and banking records, was treated as receipt in convertible foreign exchange for refund or export benefit purposes. The Tribunal focused on the substance of the remittance rather than the currency label alone, and accepted that repatriated funds routed through foreign exchange channels can satisfy the regulatory requirement even without a separate formal conversion step. The absence of foreign currency notation on the certificates did not defeat the claim where the remittance trail showed receipt through banking channels. Relief was therefore available on the basis that the receipt qualified as convertible foreign exchange. Case-Laws Service Tax Thu, 19 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294745