If a service is received from USA (import) for $100 (at Ex rate:64 i.e. Rs.6,400) on 20-7-2017.
A part payment is for $90 (at Ex rate:63 i.e. Rs.5,670) is made on 18-8-2017 and exchange gain earned is Rs.90.
GST has to be paid on RCM basis.What will be the Value of Supply?
Is it Rs. 5,670 or
Is it Rs. 5,760 (i.e. 5,670+90)
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Value of Service in GST
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supply date or (invoice date or payment date- which ever earlier) is the time of supply. value based on time of supply. means invoice or payment. include exchange gain(nothing important if payment is earlier)
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