https://www.taxtmi.com/forum/issue?id=115775 Table 5N of GSTR 9C requires reporting any difference between turnover in the annual GST return and turnover in the audited financial statements that is attributable to foreign exchange fluctuations, rather than the standalone forex gain or loss. The discrepancy arises because accounting for forex uses accounting principles for foreign currency transactions while GST valuation applies prescribed exchange rate rules, producing possible variances that must be disclosed as turnover adjustments in the reconciliation. en-us Fri, 13 Dec 2019 15:29:01 +0530 Thu, 23 Jan 2025 15:54:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=115775 Table 5N of GSTR 9C requires reporting any difference between turnover in the annual GST return and turnover in the audited financial statements that is attributable to foreign exchange fluctuations, rather than the standalone forex gain or loss. The discrepancy arises because accounting for forex uses accounting principles for foreign currency transactions while GST valuation applies prescribed exchange rate rules, producing possible variances that must be disclosed as turnover adjustments in the reconciliation. Discussion-Forum GST Fri, 13 Dec 2019 15:29:01 +0530 https://www.taxtmi.com/forum/issue?id=115775