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INVOICE FOR EXPORT SERVICE WITHOUT PAYMENT OF GST

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Santosh

Student CA Final

16 Points Posted on 02 June 2020

How to raise and what is the conversion rate in export invoice for Indian rupees for Gst return for export of service for without payment of gst.

Replies (3)

Quick Summary

This discussion clarifies how to handle GST on export services from India when no GST is paid. It explains how to raise an invoice and determine the correct exchange rate for GST returns. Options include using the RBI exchange rate, the Customs rate (as per Section 14 of the Customs Act), or even the bank's exchange rate, with a note suggesting the RBI rate is generally preferred. The impact of different invoice and payment dates on exchange rate selection is also touched upon.

Account Bird

157 Points Posted on 02 June 2020

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Pankaj Rawat

GST Practitioner

55067 Points Posted on 03 June 2020

Export of GOODS the exchange rate on shipping bill is taken from Custom (Published on weekly basis) . Refer Section 14 of custom act .

> On export of SERVICES , Generally Exporter takes the Exchange rate of RBI . But As there is no hard & fast rule in opting exchange rate of RBI only , So you can also take Custom rate of Exchange for Export of Services, The difference can adjusted Under Head "FLUCTUATION IN EXCHANGE"
Note : Many small exporter of Services also take the Bank Exchange Rate also.

Note : It's better take the Exchange rate of RBI