Export of Goods - For claiming exemption from GST or Benefit of Zero Rated supply under GST, whether receipt of consideration / payment in convertible foreign exchange is necessary or mandatory
9 May, 2017
Contents
Acts
Rules & Regulations
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Receipt in convertible foreign exchange required for export GST exemption; realization must meet foreign exchange timelines.
Whether export of goods qualifies for exemption or zero-rated GST depends on receipt of consideration in convertible foreign exchange and adherence to the realization timeframe under Regulation 9 of the Foreign Exchange Management (Export of Goods and Services) Regulations, 2015, which requires realization of export proceeds within nine months (subject to extension).
Note: It is a system-generated summary and is for quick reference only.