Master in Accounts & high court Advocate
9610 Points
Posted on 28 August 2024
For export commercial invoices, it's not mandatory to show both Indian currency (INR) and US Dollars (USD) together. However, you should indicate the currency in which the transaction is denominated. Since your transaction is in USD, you can show only USD on the invoice. However, for e-invoicing and waybill purposes, you may need to convert the USD amount into INR using the applicable conversion rate. You can show both currencies in this case: - USD amount (as per the transaction) - INR amount (converted using the applicable conversion rate) This will help in calculating taxes, duties, or other levies applicable in India. Additionally, ensure compliance with relevant regulations, such as: - GST regulations for exports - Customs regulations for export documentation - RBI guidelines for foreign exchange transactions Consult a chartered accountant or export documentation expert for specific guidance on export commercial invoices, e-invoicing, and waybills.