CBIC Clarification relating to export of services

Central Board of Indirect Taxes and Customs vide notification dated the 27th October, 2023 has issued clarification relating to export of services. It is clarified that the Indian exporters, undertaking export of services, can be 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, subject to the conditions/ restrictions mentioned in Foreign Trade Policy,2023 & extant RBI Circulars.