'MEIS benefit available for export realisation in rupee through Vostro a/c'

Imports under EPCG scheme with or without IGST payment has no bearing on export of goods on IGST payment under refund claim

We have made a shipment denominated in Indian rupees to Thailand. We have received the 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 realized 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 through Vostro