Home Forum Goods and Services Tax - GST Month 9 2023 2023 (9) This
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Zero rating of Export of service where consideration settled by book entry - Goods and Services Tax - GSTExtract Dear Experts, We are having query regarding the scenario where we are supplying service to recipient located outside India POS is also outside India but we are not receiving the consideration in Foreign Currency due to the reason we have imported some services from the same person. We are adjusting the amount receivable against the amount payable in our books. Only difference is settled in foreign currency. Whether we can claim the benefit of zero rating in this case? Whether this adjustment will fulfill the condition of amount of consideration should be received in foreign currency as specified by Sec 2(6) of IGST Act ? Thanks in advance.
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