Export of services in IGST
This query is : Resolved
chetan somani
(Querist)
16 June 2017
whether export of services in INR currency to Nepal be treated as export of services as per the GST act
CA R SEETHARAMAN
(Expert)
16 June 2017
Yes it will be treated as export of services.
chetan somani
(Querist)
18 June 2017
but it states that it shall be on foreign convertible currency. would request if the specific section is referred
CA R SEETHARAMAN
(Expert)
19 June 2017
CBE&C has issued a Circular bearing number 961/04/2012-CX dated 26th March 2012, wherein in the 3rd para, it has been clarified that export to Nepal will continue to be permissible even when the export proceeds are paid in Indian Rupees as long as payment proceeds are in accordance with applicable RBI guidelines.
Thus, considering the above referred Circular, excise duty benefit will be available to the manufacturer-exporter even if goods are exported against INR.
Wait for issue of similar circular under GST.
Thus, considering the above referred Circular, excise duty benefit will be available to the manufacturer-exporter even if goods are exported against INR.
Wait for issue of similar circular under GST.
chetan somani
(Querist)
20 June 2017
this is referred in case of goods. what if services are provided from India to Nepal and the payment is in INR from Nepal.
CA R SEETHARAMAN
(Expert)
20 June 2017
It will be applicable for services also.
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