Export Price

Import / Export 202 views 5 replies

Ravichandran

Admin

30 Points Joined January 2012

Dear Sir/Madam,

I made an export invoice to Germany dated 30.03.2023 and the shipping bill date also 30.03.2023. Value of the goods is 100 Euros. On 30.03.2023 the euro conversion rate is INR 89.525. The said payment will be transfer on 29.04.2023. Filing of GSTR1 for the month of march-23, may I enter the amount as Rs.8952/- (100 Euros). I herewith attached the entry of 6A in GSTR1. There is no any other transactions in March-23. Please guide me to file the GSTR1.

D.Ravichandran

Ficus Consulting India Private Limited

Coimbatore-25

Attached File : 733514 20230407124948 gstr1 6a.pdf downloaded: 3 times

Replies (5)

CA Mayank A Jain

Chartered Accountant in Practice

1260 Points Joined June 2019

Rule 34: The rate of exchange for determination of value of taxable goods shall be the applicable rate of exchange as notified by the Board under section 14 of the Customs Act, 1962 for the date of time of supply of such goods in terms of section 12 of the Act.

The conversion rate as per notification 15/2023-Customs(NT) which is applicable from 17th March 2023 is Rs.86.20 per Euro for exports.

Hence your invoice value for GSTR-1 would be Rs.8620.

Ravichandran

Admin

30 Points Joined January 2012

Thank you sir. My I file GSTR1-6A as INR 8620/-?

CA Mayank A Jain

Chartered Accountant in Practice

1260 Points Joined June 2019

Yes. This is correct.

Pankaj Rawat

GST Practitioner

55062 Points Joined June 2017

In GSTR-1 in table 6A you are required to report the amount which is in the Shipping Bill.

Else you can receive notice for difference of amount between shipping bill & GSTr-1.

Any diference in amount need to debied /credited to "Rate Fluctuation" in books.