Export Remittance received in Special INR Vostro Account included in Export of Services

The GST Council’s 52nd meeting was held in Delhi on October 07, 2023, under the chairpersonship of the Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman.

The GST Council has inter-alia made the following recommendation:

To issue a circular clarifying the admissibility of export remittances received in Special INR Vostro Account as permitted by RBI, for consideration of supply of services to qualify as export of services in terms of the provisions of sub-clause (iv) of clause (6) of Section 2 of the Integrated Goods and Services Act, 2017.

 

Source - https://www.pib.gov.in/PressReleasePage.aspx?PRID=1965431