CGST Rules Rule 34 — Rate of exchange of currency, other than Indian rupees, for determination of value
CGST Rules, 2017 · Rate of exchange of currency, other than Indian rupees, for determination of value
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Rule 34 of the CGST Rules, 2017 governs Rate of exchange of currency, other than Indian rupees, for determination of value. It establishes the detailed procedural framework and compliance requirements necessary to implement the corresponding provisions of the CGST Act. Rule 34 CGST: Rate of exchange of currency, other than Indian rupees, for — eligibility, conditions, case laws and compliance impact under Indian tax law.
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Substituted vide Notification No. 17/2017 -CT dated 27.07.2017. Till then, the rule read as follows -" 34. Rate of exchange of currency, other than Indian rupees, for determination of value.- The rate of exchange for the determination of the value of taxable goods or services or both shall be the applicable reference rate for that currency as determined by the Reserve Bank of India on the date of time of supply in respect of such supply in terms of section 12 or, as the case may be, section 13 of the Act."