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GST on exchange rate flutuation gain, Goods and Services Tax - GST

Issue Id: - 114615
Dated: 11-2-2019
By:- Kaustubh Karandikar
GST on exchange rate flutuation gain

  • Contents

Against supply of services for export, the amount is received by the supplier in foreign currency. There is a gain in this transaction to the supplier due to exchange rate fluctuation. Is the supplier liable to pay GST on the gain due to exchange fluctuation? If no under which provisions?

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Showing Replies 1 to 4 of 4 Records

1 Dated: 11-2-2019
By:- SANJAY JAIN

As per CGST Rule 34, the exchange rate prevailing at the time of supply will be used for tax invoice purpose. There is no liability to pay the GST on any gain due to exchange rate fluctuation. Such exchange rate gain/loss will be a reconciliation items in Form 9C


2 Dated: 11-2-2019
By:- DR.MARIAPPAN GOVINDARAJAN

I endorse the views of Shri Sanjay.


3 Dated: 12-2-2019
By:- Ganeshan Kalyani

GST is not applicable on exchange rate fluctuation.


4 Dated: 1-7-2019
By:- ARPITHA SS

Sir Rule 34 states only about the valuation of the supply related to export which is related to foreign currency transaction.

but this case is excess of the collection out of the supply made due to currency rate fluctuation.

As per income tax its other income or indirect income and we pay tax for the same. where as in GST also it will be the income only know? we need not to pay tax on that??


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