Export of Service - Invoice Currency, Goods and Services Tax - GST

[Sahil Shah]

Dear Experts,

If my export of service invoice raised on client is in USD, how to show that amount in GSTR-1? Because in GSTR-1, they are asking for INR amount in Invoice value tab.

(Note - My transaction is Export of service without payment of tax under LUT)

Thanks in advance.

Posts / Replies

[Rajagopalan Ranganathan]

Sir,

Convert the invoice value shown in USD into rupees by adopting the exchange value of USD on the invoice date and show the same in GSTR-1.

[Sahil Shah]

Ok sir thanks,

Also, is there any specific source from where the exchange rate has to be taken?

[Rajagopalan Ranganathan]

Sir,

You may refer to Exchange Notification issued by CBIC or exchange rate published in leading newspapers,

[Ganeshan Kalyani]

You may ask your Bank.

[Shilpi Jain]

For services use the RBI rate for conversion of USD to inr