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- Whether consideration received in Indian Rupees from a bank located outside India qualifies as receipt of foreign convertible exchange ?
Whether consideration received in Indian Rupees from a bank located outside India qualifies as receipt of foreign convertible exchange ?
TRT-2026-1145
Issue Favourable to Tax Payer ?:- yes
Held - As per said rules, a person shall be deemed to have repatriated the realised foreign exchange to India when he receives in India payment in rupees from the account of a bank or an exchange house situated in any country outside India, maintained with an authorized dealer. The appellant has furnished FIRC documents before the authorities below. Sample copies were produced before us also. The very same issue was considered by the Tribunal .....
- Whether reimbursement of expenses is leviable to GST?
- Whether input tax credit is admissible if invoice/debit note does not appear in Form GSTR-2A/2B or tax is not paid by supplier ?
- Whether marketing and sales promotion services to customers located outside India is intermediary or export of services ?
- Whether order / show cause notice is valid if passed without pre-show cause notice consultation or GST DRC-01 (summary SCN) or GST DRC-01A (tax intimation notice) ?
- Whether recovery proceedings can be initiated if assessee is willing to file an appeal ?
- Whether input tax credit can be transferred to the transferee entity in case of an inter-state business transfer ?
- Whether interest is payable for the period during which the reply to the deficiency memo remains pending ?
- Whether combined show cause notice can be issued covering multiple financial years ?
- Whether tax can be recovered by Department without prior intimation in Form DRC-01D ?
- Whether a penalty equal to 200% of the tax amount can be demanded in case of detention or seizure of goods ?
