Rule 34 - Rate of exchange of currency, other than Indian rupees, for determination of value

Rate of exchange for GST valuation determines the official benchmark for goods and services at the time of supply.

Rule 34 sets the exchange rate benchmarks for GST valuation: for goods, use the government-notified customs exchange rate for the date of time of supply; for services, use the exchange rate determined under generally accepted accounting principles for the date of time of supply.