Cryptocurrency Q&A
How to calculate transaction value for foreign exchange conversion?
How to calculate transaction value for foreign exchange conversion?
JejuJoyfulHeartSoul
Thu Jan 30 2025
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I'm trying to figure out how to calculate the transaction value when converting currencies in a foreign exchange. I need to understand the process of determining the value of a transaction when converting one currency to another.
5 answers
SakuraSmile
Sat Feb 01 2025
The second method is the Slab-based Method, as outlined in Rule 32 (2) (b) of the CGST Rule 2017. This approach utilizes predefined slabs or ranges to determine the transaction value, offering a different perspective compared to the Calculation Method.
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mia_anderson_painter
Sat Feb 01 2025
Both methods aim to ensure accuracy and fairness in valuing foreign exchange transactions, adhering to the regulations set forth by the CGST Rule 2011.
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Eleonora
Sat Feb 01 2025
There exist two primary approaches to ascertain the transaction value for foreign exchange conversions.
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QuasarGlider
Sat Feb 01 2025
Additionally, the RBI reference rate plays a crucial role in establishing the currency value differential. This reference rate serves as a benchmark, facilitating the smooth and transparent conversion of foreign currencies.
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Sofia
Sat Feb 01 2025
The first method is the Calculation Method, which is detailed in Rule 32 (2) (a) of the CGST Rule 2017. This method provides a structured framework for calculating the transaction value based on specified parameters.
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