Export Price

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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: 73 times
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On 07 April 2023 at 12:50 Report
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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.

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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. 

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On 07 April 2023 at 12:59
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Admin
29 Points Posted on 07 April 2023

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

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On 07 April 2023 at 13:07
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Chartered Accountant in Practice
855 Points Posted on 07 April 2023

Yes. This is correct.

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On 07 April 2023 at 13:10
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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.
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On 07 April 2023 at 23:33
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45 Points Posted on 12 April 2023

Please give an example according in my query.

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On 12 April 2023 at 14:05

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