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Ravichandran

Admin

29 Points Posted on 07 April 2023

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: 78 times

Replies (5)

Quick Summary

This discussion clarifies how to report export invoice values in GSTR1 when dealing with foreign currency. The key is to use the exchange rate applicable on the date of supply (shipping bill date) as per Customs notifications, not the date of payment. The correct value for GSTR1 should be based on the shipping bill amount, and any difference between this and the actual payment received due to currency fluctuations should be accounted for separately.

CA Mayank A Jain

Chartered Accountant in Practice

855 Points Posted on 07 April 2023

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

29 Points Posted on 07 April 2023

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

CA Mayank A Jain

Chartered Accountant in Practice

855 Points Posted on 07 April 2023

Yes. This is correct.

Pankaj Rawat

GST Practitioner

29904 Points Posted on 07 April 2023

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.