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Please explain payment in foreign convertible currency

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Student
1374 Points Joined April 2010
what does it mean and how can we check for the same?
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On 06 June 2020 at 13:00 Report
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4215 Points Joined February 2018
It means the which currency is acceptable in general
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On 06 June 2020 at 13:55
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Student
1321 Points Joined January 2018
The currency in which you get payment for services exported must be freely convertible in India.
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On 06 June 2020 at 14:08
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Student
1374 Points Joined April 2010
If we get payment directly into bank account then how is it determined
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On 06 June 2020 at 14:49
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4215 Points Joined February 2018
Calculating work is very easy
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On 07 June 2020 at 14:55
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GST Practitioner
55067 Points Joined June 2017
Convertible currency, or freely convertible currency, is a currency that doesn't have any government restrictions on currency exchange
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On 07 June 2020 at 23:49

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