Commercial Export Bill in US Dollars

Import / Export 161 views 1 replies
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accountant
355 Points Joined June 2014

In repect of Export under US Dollar :

To  Generate E Invoice and Way Bill in Rupees ( Conversion Rate of US Dollar) as usual 

Question : Is there  Mandatory to Put Indian Currency along with US Dollars  in Export Commercial Invoice ? 

Please reply 

thanks 

best regards

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On 27 August 2024 at 20:47 Report
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Master in Accounts & high court Advocate
9060 Points Joined December 2011

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.

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On 28 August 2024 at 16:57


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