Export sale date for GSTR 1

[InternationalCentreforAutomotiveTech Natrip]

Q1 : what is the date is taken for export under GST regime. Invoice date / Shipping bill date / Bill of Lading (or) Airway Bill date? for example invoice date : 10.07.2017 , shipping billdate : 18.08.2017, bill of lading (or) Airway bill date 24.08.2017 which one is correct ? why ?

Q2 : what is the correct conversion rate? which INR value was taken for Export ? Shipping bill value (or) bank realisation value? for example shipping bill conversion EUR 10000 @ 69.50 = 695000 & bank rate EUR 10000 @ ₹ 70.05 = 700500. which one is correct why?

[Ashwarya Agarwal]

Ans to Q1: The bill date should be mentioned in GSTR-1 in my opinion.

Ans to Q2: Conversion rate for foreign currency is notified by the custom department every week / fortnightly. That conversion rate is used in custom department also. You can obey that rate applicable on the date of invoice.

[InternationalCentreforAutomotiveTech Natrip]

Thanks a lot sir.

AI Summary

Export sale date in GST: use the bill date for GSTR 1 and the customs notified forex rate on invoice date. Report the export in GSTR 1 using the bill date. Apply the foreign currency conversion rate notified by the customs department, using the rate applicable on the invoice date.