Forex GST Taxable Value Calculation:
Minimum Taxable Value: ₹250/-
Slabs:
- Up to ₹1 Lakh: 1% of Forex Value
-
Above ₹1 Lakh up to ₹10 Lakh: 0.50% of the additional
value
- Above ₹10 Lakh: 0.1% of the additional value
Examples:
-
For a Forex value of ₹2,000 (quantity: 100, rate: 20), the taxable
value is ₹250 (minimum).
-
For a Forex value of ₹90,000 (quantity: 1,000, rate: 90), the taxable
value is ₹900 (1% of ₹90,000).
-
For a Forex value of ₹200,000 (quantity: 1,000, rate: 200), the
taxable value is ₹1,000 (1% of ₹100,000) + ₹500 (0.5% of additional
₹100,000).
-
For a Forex value of ₹2,000,000 (quantity: 10,000, rate: 200), the
taxable value is ₹1,000 (1% of ₹100,000) + ₹4,500 (0.5% of additional
₹900,000) + ₹1,000 (0.1% of additional ₹1,000,000). Total Taxable
Value would be ₹6,500.