GST:The CBIC has clarified that export of services qualifies as an export even when payment is received in permitted INR accounts (SNRR/NRE/Nostro), adjusted against import payables as permitted by RBI, or settled through reinsurance net retention. Further, for export of goods, GST refund recovery applies if export proceeds are not realised within the FEMA-prescribed period, unless the AD Bank/RBI writes off the realisation requirement(27.10.2026)

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GST:

The CBIC has clarified that export of services qualifies as an export even when payment is received in permitted INR accounts (SNRR/NRE/Nostro), adjusted against import payables as permitted by RBI, or settled through reinsurance net retention. Further, for export of goods, GST refund recovery applies if export proceeds are not realised within the FEMA-prescribed period, unless the AD Bank/RBI writes off the realisation requirement.

[Circular No. 263/10/2026-GST dated 26.10.2026]