TaxTMI 
TaxTMI 
Which shipping value to show in GSTR-1
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....hich shipping value to show in GSTR-1<br> Query (Issue) Started By: - Ashish Agarwal Dated:- 27-5-2020 Last Reply Date:- 28-5-2020 Goods and Services Tax - GST<br>Got 2 Replies<br>GST<br>I am an exporter. In one of my shipping bills, the FOB value and IGST Tax value are different due to exchange rate difference. FOB value ia taken @74.90/USD AND TAXABLE value @75.00. I am exporting with payment of....
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.... IGST. My question is which figure of the shipping bill should i declare in my GSTR-3B and GSTR-01 under table 6A - FOB value or IGST tax value ? Please note that in the shipping bill , the IGST amount shown has been calculated on the basis of taxable value whereas if i show FOB value in GSTR-3B, actual IGST payable will become different. I have been asked to show FOB value in GSTR by some trade ....
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....people. For one of my previous invoice also the same thing happened and i declared the FOB value in GSTR but since my IGST refund is still pending for that invoice so I am not sure what to do? Please advice Reply By Rajagopalan Ranganathan: The Reply: Sir, Since you declare the value in GSTR-1 & GSTR-3B as per your invoice, you have show the value on which IGST is calculated. Otherwise at the t....
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....ime of sanction of refund the Department may raise objection that the value shown in your invoice does not tally with the value shown in GSTR-1 & GSTR-3B. Reply By YAGAY andSUN: The Reply: In our view while issuance of Tax Invoice for exports, the Exchange Rates as issued by CBIC, on bi-monthly basis must be used to cope with such issues.<br> Discussion Forum - Knowledge Sharing ....