https://www.taxtmi.com/forum/issue?id=120956 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. en-us Tue, 09 Jun 2026 17:10:47 +0530 Tue, 09 Jun 2026 22:32:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=120956 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. Discussion-Forum Income Tax Tue, 09 Jun 2026 17:10:47 +0530 https://www.taxtmi.com/forum/issue?id=120956