Input gst on forex conversion ( remittances amt send outside
This query is : Resolved
17 September 2017
Hi,
We import goods from Korea
When we payment , bank charge charges on amt. Following
1 remmitaanc charges + csgst and sgst.
2 one more amt. Of cgst sgst on fx conversion
E.g.
We send 11139 SD
Bank conversion rate. 63.39
Conversion amt 712784.61
Bill comm. 750
Cgst 433.25
(On 750@18%=67.50
+cgst 365.75 on FX conversion
Value of service 4063.92
Sgst 433.25
(On 750@18%=67.50
+cgst 365.75 on FX conversion Value of service 4063.92
Total debit our account 714401.11
Here point is that,
We entered 750 as bank charges and its GST 67.50+67.50
But how to make a entry of SGST CGST 365
75+365.75 in my account books
Request to you pls help me in that matter
livejeevan@gmail.com
We import goods from Korea
When we payment , bank charge charges on amt. Following
1 remmitaanc charges + csgst and sgst.
2 one more amt. Of cgst sgst on fx conversion
E.g.
We send 11139 SD
Bank conversion rate. 63.39
Conversion amt 712784.61
Bill comm. 750
Cgst 433.25
(On 750@18%=67.50
+cgst 365.75 on FX conversion
Value of service 4063.92
Sgst 433.25
(On 750@18%=67.50
+cgst 365.75 on FX conversion Value of service 4063.92
Total debit our account 714401.11
Here point is that,
We entered 750 as bank charges and its GST 67.50+67.50
But how to make a entry of SGST CGST 365
75+365.75 in my account books
Request to you pls help me in that matter
livejeevan@gmail.com
17 September 2017
Query is not clear
01 August 2024
https://docs.google.com/document/d/125ylayuHBXvTUSRi8jshcrjpWHOZg_W_VhjywM5O6Bk/edit?usp=sharing
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Price inclusive or exclusive of GST while made entry in P& L Account
- Applicability of GST on Salary Reimbursement Component
- Tds on commission charges
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Dep. as per companies act
- Need Professional Opinion AY 2012-13 Old Demand
- Withdrawal in cash from partners capital account by partner
- FAST-DS Scheme - Foreign Assets
- Renovation exp. in flat by family member
- Tax rate change regarding
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
ARTICLESHIP
15 September 2026
Freelance Taxation Content Writer Intern
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
ARTICLESHIP
21 September 2026
CA Article Assistant
KK & Company Chartered Accountant
Pune
CA Inter
View Details
CCI
Pro
CAclubindia
