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<h1>Convertible foreign exchange: payments from buyer FCNR/NRE accounts may qualify for zero-rated export benefit under GST.</h1> Payments received from a buyer's FCNR/NRE account may be treated as received in convertible foreign exchange for claiming the zero-rated supply benefit under GST where such receipt conforms to modes authorised by Regulation 4 of the Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2000; the position is interpretive and authoritative clarification is suggested to resolve compliance uncertainty.
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