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TMI Blog2017 (10) TMI 83X X X X Extracts X X X X X X X X Extracts X X X X ..... C issued by the Bank which is contrary to the findings of the Adjudicating Authority which is forming part of the appeal petition. 3. Heard both sides and perused the appeals records. 4. For the proper appreciation of the case, the relevant portion of finding of the Tribunal in Final Order dated 16.02.2017, reproduced below: "8. I find that it is well settled by various decisions as referred by the ld.Counsel that the assessee received payments in Indian Rupees on exported service through foreign Bank, who has issued FIRC (Foreign Inward Remittance Certificate). In the present case, the appellant produced the letter dated 04th October, 2013 of MIZUHO Corporate Bank Ltd., New Delhi Branch for clarification/confirmation regarding receipt o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... learing Union or Nepal or Bhutan; or (b). Payment of any permitted currency. Further in reply to other question as to whether the FICR's can be issued form Bank showing the amount received in foreign currency and the bank replied that FICR is Foreign Inward Remittance Certificate and can be issued against inward remittance received from a Foreign country in any foreign currency as well as Indian rupee if remittance received in manner specified by RBI under FEMA 14 notification. Now, with the clarification and RBI Notification I find that it is allowed to receive the amount of value of services in Indian rupee and it is inward remittance under FEMA 14. Thus, I find that the receipt of value of export is permitted in Indian rupees but the pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd mentioned in the FIRCs are other than non-convertible foreign exchange, in other words, the payment is in convertible foreign exchange." 5. The contention of the ld. Counsel that they have produced the FIRC Certificate and that is the mistake of the Tribunal. The Commissioner (Appeals) observed as reproduced in the Tribunal order that it is allowed to receive the amount of value of services in Indian Rupee but provision of Export of Service Rules, 2005 has clearly stipulated that payment of such service received by the service provider in convertible foreign exchange. The applicant referred to the letter dated 04.10.2013 of the banker. The relevant portion of the said letter is reproduced below: "Inward remittances in your account no.H ..... X X X X Extracts X X X X X X X X Extracts X X X X
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