Export of Service- Exchange Rate for Invoice in GSTR 1

The RBI link cannot be used for current transactions because it has discontinued publishing daily reference rates in July 2018, transferring that role to Financial Benchmarks India Pvt. Ltd. (FBIL).

For Table 6A export of services, Rule 34(2) of the CGST Rules requires using the Generally Accepted Accounting Principles (GAAP)-compliant spot rate on the date of supply, which can be retrieved directly from the FBIL portal or your authorized dealer bank.

As pointed out in reply to query 1 - you have to adopt the rate as per AS-11 or Ind AS-21. Both prescribe an approximation which can be used on daily/ weekly/ monthly basis provided there is not much of volatility. Department has accepted this principle. The necessity to benchmark the rate daily is not required.