TaxTMI 
TaxTMI 
REPATRIATION OF EXPORT - CONVERTIBLE FOREIGN EXCHANGE
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....EPATRIATION OF EXPORT - CONVERTIBLE FOREIGN EXCHANGE<br> Query (Issue) Started By: - DR.MARIAPPAN GOVINDARAJAN Dated:- 16-5-2023 Last Reply Date:- 20-5-2023 Customs - Exim - SEZ<br>Got 3 Replies<br>Cu....
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....stoms<br>Section 2(6)(iv) of IGST Act requires that the payment for such service has been received by the supplier of service in convertible foreign exchange or in Indian rupees wherever permitted by ....
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....the Reserve Bank of India. In one case the exporter did not receive payment for his services but made 'Net Settlement Account' by which the dues of the importer and exporter are set off. Wheth....
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....er such action fulfills the conditions of Section 2(6)(iv) of IGST Act? Reply By KASTURI SETHI: The Reply: Dear Sir, For offsetting of export proceeds, please go through para 2.74 of Hand Book Proc....
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....edures, 2023. Special permission of RBI is required and Appendix-2 L is to be submitted. Reply By DR.MARIAPPAN GOVINDARAJAN: The Reply: Thank you very much sir. Reply By Shilpi Jain: The Reply: Se....
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....ttlement by way of netting off is a valid mode of payment. Will be regarded as compliance.<br> Discussion Forum - Knowledge Sharing ....