We are an Indian company ABC have raised an export invoice without payment of GST under LUT to a UAE company XYZ but XYZ doesnt have bank account as of now and wants to make payment of invoice from another company registered in Singapore JKL , please advise if this arrangement can be done as dont think our Indian Bank will allow USD to credit in our account if invoice is raised to other & payment is received from another company
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Time Limit for receiving payment against export invoice
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Yes, this arrangement can be done legally. Your Indian bank will allow USD credit from Singapore company JKL against an invoice raised to UAE company XYZ, provided there is a documented tripartite arrangement, the third party is declared in your export documentation/shipping bill, the funds route through authorized banking channels (SWIFT), and the FIRC explicitly links JKL's payment to XYZ's invoice.
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