Got paid in INR for your Exports?

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....ot paid in INR for your Exports?<br>By: - Pradeep Reddy<br>Customs - Import - Export - SEZ<br>Dated:- 17-3-2025<br><br>Got paid in INR for your Exports? Here&#39;s how you can still claim export incentives Arun, the owner of Southern Gems and Jewellery, was thriving in his export business-until a surprise hit. A payment for one of his shipments arrived in Indian Rupees (INR) instead of US dolla....

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....rs. While the payment was on time, it jeopardized his eligibility for key export incentives like &#119825;&#119848;&#119811;&#119827;&#119812;&#119823; (&#119825;&#119838;&#119846;&#119842;&#119852;&#119852;&#119842;&#119848;&#119847; &#119848;&#119839; &#119811;&#119854;&#119853;&#119842;&#119838;&#119852; &#119834;&#119847;&#119837; &#119827;&#119834;&#119857;&#119838;&#119852; &#119848;&#11984....

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....7; &#119812;&#119857;&#119849;&#119848;&#119851;&#119853; &#119823;&#119851;&#119848;&#119837;&#119854;&#119836;&#119853;&#119852;) &#119834;&#119847;&#119837; &#119814;&#119826;&#119827; &#119851;&#119838;&#119839;&#119854;&#119847;&#119837;&#119852;. While billing can be done in INR, &#119853;&#119841;&#119838; &#119851;&#119838;&#119834;&#119845;&#119842;&#119859;&#119834;&#119853;&#119842;&#1....

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....19848;&#119847; &#119848;&#119851; &#119851;&#119838;&#119836;&#119838;&#119842;&#119849;&#119853; &#119846;&#119854;&#119852;&#119853; &#119835;&#119838; &#119842;&#119847; &#119839;&#119848;&#119851;&#119838;&#119842;&#119840;&#119847; &#119836;&#119854;&#119851;&#119851;&#119838;&#119847;&#119836;&#119858; to qualify for export incentives under India's &#119813;&#119848;&#119851;&#119838;&#1198....

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....42;&#119840;&#119847; &#119812;&#119857;&#119836;&#119841;&#119834;&#119847;&#119840;&#119838; &#119820;&#119834;&#119847;&#119834;&#119840;&#119838;&#119846;&#119838;&#119847;&#119853; &#119808;&#119836;&#119853; (&#119813;&#119812;&#119820;&#119808;) &#119834;&#119847;&#119837; &#119813;&#119848;&#119851;&#119838;&#119842;&#119840;&#119847; &#119827;&#119851;&#119834;&#119837;&#119838; &#119823;....

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....&#119848;&#119845;&#119842;&#119836;&#119858; (&#119813;&#119827;&#119823;). Arun now faced the risk of losing benefits and potential compliance penalties. However, Arun found that export proceeds can still be realized in INR under specific conditions: 1. &#119813;&#119851;&#119838;&#119838;&#119845;&#119858; &#119810;&#119848;&#119847;&#119855;&#119838;&#119851;&#119853;&#119842;&#119835;&#119....

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....845;&#119838; &#119829;&#119848;&#119852;&#119853;&#119851;&#119848; &#119808;&#119836;&#119836;&#119848;&#119854;&#119847;&#119853;: INR payments can be routed through a &#119813;&#119851;&#119838;&#119838;&#119845;&#119858; &#119810;&#119848;&#119847;&#119855;&#119838;&#119851;&#119853;&#119842;&#119835;&#119845;&#119838; &#119829;&#119848;&#119852;&#119853;&#119851;&#119848; &#119808;&#119836;&....

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....#119836;&#119848;&#119854;&#119847;&#119853; of a non-resident bank located in a country other than a member of Asian Clearing Union, Nepal, or Bhutan 2. &#119826;&#119849;&#119838;&#119836;&#119842;&#119834;&#119845; &#119825;&#119854;&#119849;&#119838;&#119838; &#119829;&#119848;&#119852;&#119853;&#119851;&#119848; &#119808;&#119836;&#119836;&#119848;&#119854;&#119847;&#119853;: Routing payment....

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....s through a &#119826;&#119849;&#119838;&#119836;&#119842;&#119834;&#119845; &#119825;&#119854;&#119849;&#119838;&#119838; &#119829;&#119848;&#119852;&#119853;&#119851;&#119848; &#119808;&#119836;&#119836;&#119848;&#119854;&#119847;&#119853; can also ensure compliance with FEMA 3. &#119812;&#119857;&#119849;&#119848;&#119851;&#119853;&#119852; &#119853;&#119848; &#119816;&#119851;&#119834;&#119847....

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....;: Realizing proceeds in INR is permitted under special conditions for exports to Iran, as outlined in &#119823;&#119834;&#119851;&#119834; 2.19 &#119848;&#119839; &#119853;&#119841;&#119838; &#119813;&#119827;&#119823;. 4. &#119827;&#119851;&#119834;&#119837;&#119838; &#119856;&#119842;&#119853;&#119841; &#119821;&#119838;&#119849;&#119834;&#119845; &#119834;&#119847;&#119837; &#119809;&#119841;....

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....&#119854;&#119853;&#119834;&#119847;: INR payments are allowed for exports to these countries. For Nepal, receipts can be in foreign currency if the &#119821;&#119838;&#119849;&#119834;&#119845; &#119825;&#119834;&#119852;&#119841;&#119853;&#119851;&#119834; &#119809;&#119834;&#119847;&#119844; permits the importer to pay in foreign currency. &#119827;&#119834;&#119844;&#119838;&#119834;&#119856;....

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....&#119834;&#119858;: If you receive INR payments for your exports, remember that realization must be in foreign currency to stay compliant. Use options like &#119813;&#119851;&#119838;&#119838;&#119845;&#119858; &#119810;&#119848;&#119847;&#119855;&#119838;&#119851;&#119853;&#119842;&#119835;&#119845;&#119838; &#119829;&#119848;&#119852;&#119853;&#119851;&#119848; &#119808;&#119836;&#119836;&#1198....

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....48;&#119854;&#119847;&#119853;&#119852;, &#119826;&#119849;&#119838;&#119836;&#119842;&#119834;&#119845; &#119825;&#119854;&#119849;&#119838;&#119838; &#119829;&#119848;&#119852;&#119853;&#119851;&#119848; &#119808;&#119836;&#119836;&#119848;&#119854;&#119847;&#119853;&#119852;, or special provisions for countries like Iran, Nepal, and Bhutan to protect your export benefits! Unnathi Partners Re....

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....ply By RAHUL AGRAWAL as = There is a recent Madras High Court ruling in 2024 on this issue Dated: 10-5-2025<br> Scholarly articles for knowledge sharing by authors, experts, professionals ....