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GST related urgent query.......
in sbi bank site there is exchange rate like TT buying rate, TT Selling Rate,PC buying rate, PC selling rate, currentcy buying rate, currency selling rate,TC buying rate, TC selling rate, Bill Buying rate, Bill selling rate which exchange rate is used for export of service for GST Invoice ?
Replies (1)
For GST export of services, use the exchange rate determined by Generally Accepted Accounting Principles (AS-11), which is typically the RBI closing reference rate on the date of the invoice. Ensure you use this rate consistently for your invoice, accounting books, and GSTR-1 reporting, and avoid using Customs-notified rates as they apply only to goods.
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