We make Export of product worth USD10000. We made Invoice in USD, Got Shipping Bill and got Duty Drawback.
But we received payment in INR. Our client said that He in his country bought USD and got it converted to INR.
Our Bank received payment worth INR420000.
Our Bank also gives a message copy in which it is written 'Foreign Inward Remittance from Bank for INR420000'.
Now what to right on BRC i.e. Whether Export is in Indian Rupee or Freely Convertible Currency.
Secondally, will it be considered as Export as we got payment in INR.
If not what should be done. Shall we return Drawback or other steps what can be taken.
CAclubindia
