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

Section - 02 - Definitions.

THE INTEGRATED GOODS AND SERVICES TAX ACT, 2017

There is stipulation under the GST law for receipt of payment in convertible foreign exchange in case of Export of Goods.

But, in accordance with Regulation 9 of the Foreign Exchange Management (Export of Goods and Services) Regulations, 2015, the consideration should be realized within 9 months (or within extended period, if permitted)

Dated: 9-5-2017