Question ID : 41056

EXPORT OF SERVICE AND RECEIVING OF REMITTANCE

A Pvt. Ltd. Co. is creating websites and accounting systems for clients based in USA & Europe. These are treated as export of service. Company raised invoice on say 01-April-2020. Now the question is : (1) What is the maximum time limit to receive the sales proceeds in convertible foreign exchange?" so that the above Invoice can continue to be treated as export of service. (2) Is there any change in the time limit for receiving convertible foreign exchange? Thanks

posted by SK on May 26 2021 12:00AM