Foreign Exchange Fluctuation- Forex gains from invoice and Payment date

[Shan S]

When i raise invoice the forex rate is around 89 and when payment is received exch rate becomes 92 and with bank charges the amount received in the bank.

For GST exch rate as per customs 89 is shown in invoice.

For IT presumptive taxation- Gross amount to be taken with exch rate of 92, so the 3rs of forex gains to be shown in any different schedule? for ITR 4

and also there will be a difference in GST total invoice turn over and ITR filing Gross Income, is that fine?

AI Summary

Forex fluctuation treatment explains why GST turnover and income tax gross receipts can differ in export services.
Exchange-rate fluctuations can create a difference between GST export turnover and income tax gross receipts. GST valuation follows the applicable exchange-rate rule on the relevant date, while income tax receipts under presumptive taxation are generally taken at the amount actually realized in INR. Forex gain arising between invoice date and realization becomes part of gross professional receipts, and bank charges affect only the net bank credit. A reconciliation of invoice value, bank realization, forex gain, and bank advice is useful where the mismatch is material.