• 5.6. What conversion day do you choose if you account for GST on a non-cash basis?

    Non-interpretative – other references (see GSTR 2001/2External Link - Goods and Services Tax: foreign exchange conversions)

    The conversion day is the first of:

    • the day on which any of the consideration is received for the supply, or
    • the transaction date/the invoice date (whichever you choose).

    The transaction date is the date you use for foreign currency conversion in your accounting system under the relevant accounting standard.

      Last modified: 24 Jun 2015QC 16359