AAR: Value of supply under foreign currency billing to be determined as per notified exchange-rate

Uttarakhand AAR holds that the value of goods supplied within India and billing done in foreign currency, shall be determined under Rule 34 of CGST Rules, 2017 and rate of exchange for imported goods as notified by the Board under Section 14 of the Customs Act, 1962 shall be applicable; Perusing the records, finds that agreement was signed between Chief Engineer/Projects-II, Tangedco, Chennai and BHEL, Power Sector-Marketing, New Delhi, for engineering, procurement and constr...