Shipping Bill rate

582 views
User Avatar

Accountant
125 Points Posted on 30 May 2023
Respected Experts,

We exported material on e-Invoice with IGST Paid on 23-05-23, with the exchange rate of US.$.82/-

In the shipping bill dated 24-05-23, the exchange rate shows US.$.81.55..

Can I rectify the INR as per the shipping Bill in the GSTR1 Table.

Please help me..
Yours..
Eajaz
0 Reply Share Follow
On 30 May 2023 at 12:49 Report
Replies (4)
Quick Summary
This discussion addresses a discrepancy in exchange rates between an e-invoice and a shipping bill for an export transaction. The user is seeking advice on whether to rectify the INR value in GSTR1 based on the shipping bill's rate. Experts advise that GSTR1 details should align with the shipping bill filed on ICEGATE, and any difference should be adjusted in the books as 'Exchange Rate Fluctuations'.

User Avatar

Other
26 Points Posted on 31 May 2023

Yes, shipping bill should be more relevant here.

Reply
On 31 May 2023 at 09:10
User Avatar

GST Practitioner
29904 Points Posted on 03 June 2023
Dear Eajaz
In GSTR 01 in table 6A you are required to provide the details as per Shipping bill Filed.

In books you have to adjust the sale as per Shipping bill by adjusting under the "Exchange Rate Fluctuations ".

Because the your your Shipping bill data on ICEGATE must be matched with GSTR-1 else you getting messages/notice for the same.
Reply
On 03 June 2023 at 23:24
User Avatar

Accountant
125 Points Posted on 04 June 2023
Thanks a lot..
Experts reply never let me down..
Thanks again..
Reply
On 04 June 2023 at 06:57
User Avatar

GST Practitioner
29904 Points Posted on 04 June 2023

You welcomed 

 

Reply
On 04 June 2023 at 14:11

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. NSFA(National Food Security Act) commission
  2. RCM applicability on petty GTA freight (₹450
  3. Short payment reccieved in export & GST implic
  4. Parag Gupta vs Purushottam Aggarwal- who is best f
  5. GST applicability on own-vehicle goods transportat
  6. FAST DS Scheme 26
  7. 12A registration expired in FY 22-23 and is not re
  8. Seeking Clarification on Business Code Selection a
  9. CG on property sold after construction of a house
  10. Nursing Home Taxability

More recent discussions | Post

Related Topics :

Loading

Latest Job Openings

View all
Company
ARTICLESHIP 21 September 2026
CA Article Assistant

KK & Company Chartered Accountant

Pune

CA Inter

View Details
Company
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared

Getmyca Consultant Pvt Ltd

New Delhi

CA Inter

View Details
Company
26 September 2026
Chartared Accountant

pushpganga ventures

Pune

CA

View Details
Company
29 September 2026
Work at home

Lottery.sambad.tv

Bhopal

Others

View Details
Company
16 September 2026
Internal Audit - Team Lead

Consulting & Beyond

Chennai

CA

View Details
Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
08 September 2026
Audit Executive

Thammana & Associates

Srikakulam

B.Com

View Details
Company
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER

Anupam Parashar & Co.

Ghaziabad

CA Final

View Details