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Khushboo (article assistant)     21 January 2021

Gstr query

Mine is a game development co ... Basically we make VR (virtual reality games) . And the sale proceeds are in USD.
So the 1st transaction is sale proceeds received which is in USD...

will this be considered as export sales and gst would be nil?

Now the bank has released the amount and charged gst ....
I think the gst charged by bank is for the service of converting the usd into inr... Correct me if I am wrong ...

The amount credited is 7,845/-( usd 108.32 *Rs. 72.42) and amount debited is 46/- ( cgst :23+ sgst :23)

Please tell me what is the treatement of this transaction in gst return

 3 Replies

Leena Raghuvanshi

Leena Raghuvanshi   21 January 2021

Hello Khushboo,
The currency in which you receive your sale consideration does not determine whether it is export or not. It is determined by the place of supply.
Kindly check with place of supply of goods.
And as for your question to GST charged by bank, yes you are right it is for the service provided by bank to convert USD to INR.
Thanks and Regards,

Khushboo (article assistant)     21 January 2021

See the game is available online for sale... ant the buyers are all from outside India. so I considered it as export sales
Leena Raghuvanshi

Leena Raghuvanshi   21 January 2021

Then yes your contention us is correct.

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