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of <h1>Are Payments from FCNR/NRE Accounts Convertible Foreign Exchange for GST Benefits? Clarification Needed Under GST Act 2017.</h1> The article discusses whether payments received from a Foreign Currency (Non-Resident) account or Non-Resident External Account (FCNR/NRE) can be considered as received in convertible foreign exchange for claiming benefits under the Goods and Services Tax (GST) in India. According to the Integrated Goods and Services Tax Act, 2017, and the Foreign Exchange Management Regulations, 2000, exporters are allowed to receive payments through alternative modes, including FCNR/NRE accounts. The author suggests that such payments should be treated as convertible foreign exchange and calls for government clarification to resolve any uncertainties.
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