Circular No. 202/14/2023-GST dated October 27th, 2023
The CBIC has clarified that when the Indian exporters are paid the export proceeds in INR from the Special Rupee Vostro Accounts of correspondent bank(s) of the partner trading country, opened by AD banks, the same shall be admissible for treating as exports under GST subject to the conditions/ restrictions mentioned in Foreign Trade Policy, 2023 & extant RBI Circulars.
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