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Q. GST YouTube income query

Ajnas (Student) (844 Points)

07 July 2021

What is the time of supply in case of export of service for youtube income? When will GST is calculated? Which exchange rate is considered for export of services?

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4 Replies

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 08 July 2021

Dear Ajnas
Time of supply of services are defined in Section 13 of CGST Act .

As per Section 13(2) (a) , Time of Supply is :
Date of issue of invoice by supplier or date of receipt of payment , whichever is earlier.

As per Section 13(2)(b) , Time of Supply is :
Date of provision of services or Date of receipt of payment, whichever is earlier.

As per Section 13(2)(c) :
where the provision of (a) & (b) do not apply ;
Date on which the recipient show the receipt of services in book of account.

Note : If it is continuous supply of services , then refer Section 31(5) of CGST Act .

Exchange Rate to be considered :

RBI rates are considered. Actually the rule 34 has been Substituted by Notification 17/2017 CT (r) till then read as follows " 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 RBI on the date of time of supply in respect of such supply in term of Section 12 or as the case may be , section 13 of the Act"

But As there is no hard & fast rule in opting exchange rate of RBI only , So you can also take Custom rate of Exchange for Export of Services, The difference can adjusted Under Head "FLUCTUATION IN EXCHANGE" Note : Many small exporter of Services also take the Bank Exchange Rate.

for more details on Exchange rate can refer link below :
https://www.caclubindia.com/forum/exchange-rate-for-export-of-service-547173.asp

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Ajnas (Student) (844 Points)
Replied 08 July 2021

From which site will get the rbi exchange rate and custom rate of exchange for export of service? in cbec site only custom rate of goods is only available