I understood that Indian customer cant do payment in foreign currency to Indian company. But i want to know can they raise invoice in Foreign currency to Indian entity. If yes, what is impact on GST. Thanks
05 May 2022
Yes, but the payment is to be received in INR. Charge applicable GST also in USD. It has to converted to local currency when it gets accounted in your books and the exchange rates should be at the time of the service you offered or the goods you sold.
CAclubindia
