Statement 03 in GST RFD 01

While applying for GST refund under RFD 01(without payment of tax) in STATEMENT 03 we are required to provide Document (Invoice) details and FIRC/BRC values (in Service cases). Normally Document values will be in INR but and statement 03 is supposed to be prepared in INR but BRC is having values in foreign currency. So which value (INR or Foreign Currency) we have to provide in Statement 3?

Example: I have an export invoice worth 90 Lakh but this has been realised in 2 separate BRCs with 60000 GBP & 30000 GBP, under this scenario how to fill Statement 3.

Replies (2)
Quick Summary
This discussion addresses a common query regarding the GST refund application process (RFD 01), specifically concerning Statement 03 when dealing with foreign currency BRCs. The core issue is how to report BRC values, which are often in foreign currency, when Statement 03 requires figures in INR. The advice provided suggests reporting the INR value in Statement 03 and allows for the inclusion of multiple BRCs against a single invoice, even if they represent different foreign currency amounts. Clarification is sought on whether to convert BRCs to INR or use pro-rata values.

1. You will have to fill INR in statement 3
2. You can select 2 BRC for one Invoice and need to report both the BRC in statement 3

For further clarification contact CA SACHIN M JAIN
Mobile : 8097515447
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Email : casachinmjain @ gmail.com
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But the problem here is that BRC is only having Foreign currency value, no INR valuation. So are we supposed to give BRC value in foreign currency or INR value? If INR value to be given, are we allowed to provide pro-rata INR valuation for each BRC?

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