GST Applicability on Exchange gain, Goods and Services Tax - GST

[Ashiesh Prremji]

Dear Sir,

Please suggest GST applicability on exchange gain, Rule 34 of CGST talks about rate applicability for valuation purpose ?

Thanks with Regards,

Posts / Replies

[KASTURI SETHI]

Foreign exchange gain on what account ? Pl. elaborate your query.

[KASTURI SETHI]

Are you talking of foreign exchange gain due to rate fluctuations, if it is so, GST is not applicable.

[Ashiesh Prremji]

Yes Sir exactly it was due to rate fluctuation. Thanks for your Reply!

[YAGAY andSUN]

Please also check Rule 32 of CGST Rules 2017.

[Ganeshan Kalyani]

GST is not applicable on the gain arisen out of fluctuation in exchange rate. I agree with Sri Kasturi Sir's view.

[YAGAY andSUN]

Agreed, but if such fluctuation is from e.g. providing currency exchange services, then GST is applicable on such transactions.

[RAGHAV GARG]

Why Forex Gain / Loss is exempt..?? Whether any Notification or Schedule III exemption for Same??