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GST Applicability on Exchange gain, Goods and Services Tax - GST

Issue Id: - 116284
Dated: 11-5-2020
By:- Ashiesh Prremji
GST Applicability on Exchange gain

  • Contents

Dear Sir,

Please suggest GST applicability on exchange gain, Rule 34 of CGST talks about rate applicability for valuation purpose ?

Thanks with Regards,

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Showing Replies 1 to 6 of 6 Records

1 Dated: 11-5-2020
By:- KASTURI SETHI

Foreign exchange gain on what account ? Pl. elaborate your query.


2 Dated: 11-5-2020
By:- KASTURI SETHI

Are you talking of foreign exchange gain due to rate fluctuations, if it is so, GST is not applicable.


3 Dated: 11-5-2020
By:- Ashiesh Prremji

Yes Sir exactly it was due to rate fluctuation. Thanks for your Reply!


4 Dated: 11-5-2020
By:- YAGAY andSUN

Please also check Rule 32 of CGST Rules 2017.


5 Dated: 11-5-2020
By:- Ganeshan Kalyani

GST is not applicable on the gain arisen out of fluctuation in exchange rate. I agree with Sri Kasturi Sir's view.


6 Dated: 12-5-2020
By:- YAGAY andSUN

Agreed, but if such fluctuation is from e.g. providing currency exchange services, then GST is applicable on such transactions.


1

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