GAIN ON FOREIGN EXCHANGE TRANSACTIONS

[KESHAV GROVER]

WHETHER GAIN ON FOREIGN EXCHANGE TRANSACTIONS WOULD FORM PART OF SUPPLY FOR EXPORTER? AND WHETHER IT IS SUPPLY FOR EXPORTER OR NOT?

AI Summary

Are Foreign Exchange Gains Part of Supply for Exporters Under GST? Experts Say No, It's Not Included. A discussion on whether gains from foreign exchange transactions should be considered as part of supply for exporters under Goods and Services Tax (GST) was initiated. Two responses were provided. The first response clarified that supply is determined when the supply occurs and the tax invoice is generated, thus foreign exchange fluctuations do not affect it. The second response concurred, stating that such gains do not form part of the supply.