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Posting Invoice with different FX Rate for GST Tax Line Item in SAP

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Ram based in Bangalore has 2 branches of his business, in Delhi and Bangalore. When your customers make payment in foreign currency and you exchange the foreign currency for Singapore dollars, an exchange gain or loss may arise and it is a supply for GST purpose.

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  1. Examples of the approved exchange rates are exchange rates published by local banks or locally circulated newspapers.
  2. In your GST return, you should report the amounts in Singapore dollars shown in your tax invoice for "value of standard-rated supplies" and "output tax due".
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  • Revenue generated by an IHC may also consist of interest income or other income from financial supplies such as gain in foreign exchange.
  • The importance of time value in options trading
  • For imports, you should claim input tax based on the Singapore dollar amounts shown in the import permits issued by Singapore Customs.
  • How Much Tax You've To Pay On Foreign Exchange Transactions In India?

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