Exchange when goods are supplied within India and billing is to be done in foreign currency

In re Bharat Heavy Electricals Ltd. (GST AAR Uttarakhand) In case where goods are supplied within India and billing is to be done in foreign currency, which exchange rate to be applied rate prescribed for export of goods or for import of goods? On perusal of legal provisions (supra), we observe that “Transaction Value” is the basis for valuation for supply of goods and/or services under the GST Regime. For the levy of tax, first we have to determine the transaction value. Transaction Value’ is the price actually paid or payable for supply of goods and/or services. We also obs...