Section 34 in Punjab Goods and Services Tax Rules, 2017
34. [ Rate of exchange of currency, other than Indian rupees, for determination of value. [Substituted by Punjab Notification No. G.S.R.42/P.A.5/2017/S.164/Amd.(3)/2017, dated 20.9.2017 (w.e.f. 29.6.2017).]
(1)The rate of exchange for determination of value of taxable goods shall be the applicable rate of exchange as notified by the Board under section 14 of the Customs Act, 1962 on the date at the time of supply of such goods in terms of section 12 of the Act.(2)The rate of exchange for determination of value of taxable services shall be the applicable rate of exchange determined as per the generally accepted accounting principles on the date at the time of supply of such services in terms of section 13 of the Act.]
