Export invoice in INR and export realisation
This query is : Resolved
Sanjay Agarwal
(Querist)
20 June 2020
We need to export to a customer in INR . The payment will be done by their sister concern based in India in INR.
My query is :-
1. Can the payment made by Indian sister concern be sqaured off against export realisation ?
2. Can we export against LUT without paying IGST ?
My query is :-
1. Can the payment made by Indian sister concern be sqaured off against export realisation ?
2. Can we export against LUT without paying IGST ?
CA R SEETHARAMAN
(Expert)
20 June 2020
1 No, export proceeds should be received in convertible foreign exchange.
2 yes, you can export against LUT without paying IGST.
2 yes, you can export against LUT without paying IGST.
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