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Gst rate doubt

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380 Points Posted on 21 May 2023
my client doing USD dollar online trading from an app his turnover around 1 crore in a year my question he is applicable gst? and what is the gst rate of tax for his income for example his one month purchase 10 lacs usd dollars and sales 11 lacs usd dollars now what is the gst tax payable amount for the above sales kindly guide me
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On 21 May 2023 at 12:22 Report
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GST Practitioner & Accounts
15083 Points Posted on 21 May 2023

Yes , GST applicable as per rule 32(2) of the CGST rules 2017 . please refer ( CGST  rules amended  till date ) . Take others opinion as well.

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On 21 May 2023 at 13:21
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GST Practitioner
55067 Points Posted on 24 May 2023
As per Section 32(2)(a)
Where the RBI reference rate for Currency is available : Suppose
10 lac US$ purchase at the rate of 60 per US$ RBI reference rate for US$ is INR 60.50 for that day.
(60.50-60)x 10 lac $ = 5lac .
Hence the Taxable value is 5lac.
301 Reply
On 24 May 2023 at 23:57


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