Time modifiers for Search and Time zones

Hi All,

The timezone in my splunk setup is IST (UTC + 5.30)

From the examples at http://docs.splunk.com/Documentation/Splunk/5.0.3/Search/Specifytimemodifiersinyoursearch

if the current time is Jul 4, 2013 8:11:56.000 PM

Then -1h@h = Jul 4, 2013 7:00:00.000 PM

But in my setup, when the current time is

Jul 4, 2013 8:11:56.000 PM

-1h@h returns Jul 4, 2013 6:30:00.000 PM

Taking into account the conversion of time between UTC and IST, is this behavior correct?