What do u mean by gross amount ??

Gross amount is
1. if transaction contain Indian rupees whether selling currency or buying currency than value of Indian rupees.
2. if buying and selling both are foreign currency than convert both currencies (individually) in Indian rupees using rate of exchange (given by RBI) of that day . In this case gross amount will be lower of the of two converted value in Indian rupees.

Originally posted by : susanta kumar mandal
	In the above rule 32(2)(a) & (b). ,. What is the meaning of GROSS AMOUNT for money changerWhether gross amount is sum of purchasing currency value & selling currency value or gross amount is selling currency value.

Rule 32 (2) (a)

Part -1 Conversion of Foreign Currency To Indian Currency or Vice Versa

If RBI Reference Rate Available Than

Difference between RBI Reference Rate and Dealer Rate

If RBI Reference Rate not Available Than

1 % of Gross Amt of Indian Rs.

Part-2 Foreign Currency To Foreign Currency

1 % of less two Amt by converting in Indian Currency by RBI Reference Rate

Exp.  Purchase Rate by Dealer 1  Canadian Dollar = 49.50

         Actually Purchase CAD 1000

         Than Gross Amt is Rs. 1000*49.50

FBIL was advised to take necessary steps to undertake the computation and publication of USD/INR Reference Rate as also the other three Reference Rates for EURO/INR, GBP/INR and JPY/INR, which are currently being published by RBI

Originally posted by : susanta kumar mandal
	In the above rule 32(2)(a) & (b). ,. What is the meaning of GROSS AMOUNT for money changerWhether gross amount is sum of purchasing currency value & selling currency value or gross amount is selling currency value.

Purchase Currency and Selling of Currency are both Separate  Transaction 

Both Transaction Gross Value Calculated & GST Liability arise in Both Transaction 

Both Transaction Compaire with RBI Reference Rate Separately