In excise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs (CBEC) hereby makes the following further amendments in the Notification of the Government of India, Ministry of Finance (Department of Revenue ) No. 59/2013-CUSTOMS (N.T.) dated the 6th June, 2013 published in the Gazette of India, part II, Section 3, Sub-section (ii), Extraordinary vide number S.O.1465[E], dated 6th June, 2013, namely:-

In the Schedule-I of the said Notification, for Serial No. 4, and the entries relating thereto, the following shall be substituted, namely:-

SCHEDULE-I 

S.No.	Foreign Currency	Rate of exchange of one units of foreign currency equivalent to Indian Rupees
(1)	(2)	(3)
		(a)	(b)
		(For imported Goods )	(For Export Goods)
4	Danish Kroner	10.55	10.25

 

DSM/RS/ka

(Release ID :96566)

Customs exchange rate notification updates foreign currency valuation for import and export transactions under Customs Act. The Board, under section 14 of the Customs Act, amends the cited notification by substituting Serial No. 4 in Schedule-I to set the foreign currency entry and two distinct rupee-equivalent rates: one rate for valuation of imported goods and a separate rate for valuation of exported goods, thereby fixing the exchange rate metrics applied for customs purposes.