As per circular No. 37//11/2018-GST, Sr. No.9.1, it is mentioned that while processing the refund claim , the value of the goods declared in the gst invoice and the value in the corresponding shipping bill , should be examined and lower of the two values should be sanctioned as refund.
Now the concerned officer is asking us to calculate the refund as per FOB, where as , our submission is, due to exchange rate diff, Board is asking to process the refund on lower exchange rate.
Please clarify, which position is correct.
CAclubindia
