JRz- in your case, both GMT offset and DST have exactly the same magnitude: one hour. That is why you are not able to pinpoint the source of this offset. Try some other timezone (US for example) and see.
Also try to set different months (in summer and then winter) to see the effect of DST alone.
From my experience, I can definitely say that the time taken is GMT and then the offset from GMT is added.
But about DST I am not sure. (First of all, there is no DST in my timezone).
My theory is that Windows can never take care of DST, because we define only the offset from GMT when setting up the system clock.
Look, the timeline extends from North Pole to South Pole, and offset from GMT is uniform along it. And that's the only information you give to the OS. Now even along the same timeline, there are different DST policies in place. (see
http://webexhibits.org/daylightsaving/g.html) Windows never asks you if you are in the tropics (no DST) or north or south (where some countries have DST).
Then how can Windows guess exactly what is the DST policy where you live?
In other words, you will definitely see some difference vis-a-vis your exact DST time.