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Forex under GST
When I doing exports, Sometimes I have made Foreign exchange Gain on that. Under GST, Foreign exchange gain is treated as exempt supply or Non GST supply? and tell me where it is shown in GSTR -1 & 3B?. kindly give solution with references, circular, or etc.
Replies (1)
As per CGST Rule 34, the exchange rate prevailing at the time of supply will be used for tax invoice purpose. There is no liability to pay the GST on any gain due to exchange rate fluctuation. Such exchange rate gain/loss will be a reconciliation items in Form 9C
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