https://www.taxtmi.com/forum/issue?id=116284 Foreign exchange gain due solely to currency rate fluctuations is not subject to GST where it is an accounting/valuation movement and not consideration for a supply. Valuation rules (noted references to Rule 34 and Rule 32 of the CGST Rules) are relevant but do not render incidental forex variance taxable. Conversely, exchange margins or fees arising from providing currency exchange services are consideration for supply and attract GST, requiring reference to notifications or Schedule provisions for authoritative clarity. en-us Mon, 11 May 2020 10:35:22 +0530 Thu, 23 Jan 2025 15:54:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116284 Foreign exchange gain due solely to currency rate fluctuations is not subject to GST where it is an accounting/valuation movement and not consideration for a supply. Valuation rules (noted references to Rule 34 and Rule 32 of the CGST Rules) are relevant but do not render incidental forex variance taxable. Conversely, exchange margins or fees arising from providing currency exchange services are consideration for supply and attract GST, requiring reference to notifications or Schedule provisions for authoritative clarity. Discussion-Forum GST Mon, 11 May 2020 10:35:22 +0530 https://www.taxtmi.com/forum/issue?id=116284