Export related issues, Goods and Services Tax - GST

[Shashikumar Guntuka]

what is the date is taken for export under GST regime. Invoice date / Shipping bill date / Bill of Lading (or) Airway Bill date? for example invoice date : 10.07.2017 , shipping billdate : 18.08.2017, bill of lading (or) Airway bill date 24.08.2017 which one is correct ? why ?

Q2 : what is the correct conversion rate? which INR value was taken for Export ? Shipping bill value (or) bank realisation value? for example shipping bill conversion EUR 10000 @ 69.50 = 695000 & bank rate EUR 10000 @ ₹ 70.05 = 700500. which one is correct why?

Q. What will treat the difference amt foreign exchange as against invoice amt

Posts / Replies

[YAGAY and SUN]

This will be governed by LEO Date as per the Shipping Bill in GST Regime read with chapter 9 of the FTP/HBP Vol. 1

[Alkesh Jani]

Sir,

In addition to the views expressed by our experts, I wish to add that for relevant date please refer explanation No.2 of the Section 54 of CGST Act, 2017.

No.2. BRC is the value to be taken for purpose of GST.

No.3 As it is revenue neutral, my point of views is you need to declare in your annual return.

Our experts may correct me if mistaken

Thanks