Bharat Heavy Electricals Ltd ., In re
Date: January 8, 2020
Subject Matter
Rate of exchange of imported goods shall be applicable in as much as the foreign currency price in the contract is to cover imported content of the material used for intended purpose
Summary
The issue in hand is related to valuation of goods supplied within India and billing is being done in foreign currency, thus Rule 34 of the Rules is to be applied Now the question arises which rate of exchange (import or export) shall be applicable a…
1. This is an application under Sub-Section (1) of Section 97 of the CGST/SGST Act, 2017 (herein after referred to as Act) and the rules made thereunder filed by M/s. Bharat Heavy Electricals Ltd, Ranipur Hardwar, Uttarakhand (here in after referred to as The applicant’) is registered with the GSTN having Registration No. 05AAACB4146P1ZL and seeking advance ruling on the following ques…