One of our clients based in Dubai has made payments which hit our bank account in INR instead of Foreign Currency.
What should be the GST treatment, and how to file it in the GST system ?
Your advice will be highly appreciated ..
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Gst treatment for services export payment received in inr
Replies (2)
As per New amendment Act 31/2018 & the same being effective from 1/2/19 by Notification 2/2019 CT.
The provisions of Section 2(6)(iv) of the IGST Act are also being amended to provide that services shall qualify as exports even if the payment for the services supplied is received in Indian rupees as per RBI regulations.
Hence can be treated as export
The provisions of Section 2(6)(iv) of the IGST Act are also being amended to provide that services shall qualify as exports even if the payment for the services supplied is received in Indian rupees as per RBI regulations.
Hence can be treated as export
Dear Sir
This is subject to guidelines specified by RBI in master circular. all the payment received in INR can not be treated as Export
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