'Export incentives available on rupee payment through Vostro account'

That PN does not extend the first block or final EO period. It only relaxes the period within which you can ask for extension of first block or final EO period.

Q. We have made a shipment denominated in Indian rupees to UK and USA. We have received payment through banking channels and our bank has informed us that the payment has been received through Vostro Account. Can we claim MEIS benefits on this shipment against such receipts?

Yes. As per Para 2.52(b) of FTP, “export proceeds against specific exports may also be realised in rupees, provided it is through a freely convertible Vostro account of a non resident bank situated in any country other than a member country of Asian Clearing Union (ACU) or Nepal or Bhutan. Additionally, rupee payment