Cryptocurrency Q&A
Does conversion rate affect foreign exchange gain or loss under GST?
Does conversion rate affect foreign exchange gain or loss under GST?
KatieAnderson
Thu Jan 16 2025
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7 answers
1674
I'm wondering if the conversion rate has any impact on foreign exchange gain or loss when it comes to Goods and Services Tax (GST). Could there be any financial consequences due to this rate?
7 answers
EthereumEmpress
Sat Jan 18 2025
The conversion rate plays a crucial role in determining the value of a supply.
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BitcoinBaronGuard
Fri Jan 17 2025
From an accounting and income-tax perspective, the foreign exchange gain or loss is a relevant term.
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Leonardo
Fri Jan 17 2025
It helps in understanding the financial impact of currency fluctuations.
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Lucia
Fri Jan 17 2025
This value is significant because it impacts the amount of tax that is to be applied.
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CryptoVanguard
Fri Jan 17 2025
The GST rules prescribe how the conversion rate should be adopted.
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