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        Case ID :
        Income Tax

        Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified

        August 30, 2013

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        In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs hereby makes the following further amendments in the Notification of the Government of India, Ministry of Finance (Department of Revenue) No. 83/2013-CUSTOMS (N.T.) dated the 14th August, 2013 published in the Gazette Of India, Part-II, Section 3, Sub-Section (ii), Extraordinary vide number S.O. 2467(E) dated, the 14th August, 2013, namely:-

        In SCHEDULE-I of the said Notification, for Serial No.1, 3, 9, 10, 11, 12 and 13 and the entries relating thereto, the following shall be substituted, namely:-

        SCHEDULE-I

        S.No.

        Foreign Currency

        Rate of exchange of one unit of foreign currency equivalent to Indian rupees

        (1)    

        (2)

        (3)

         

         

                       (a)

                        (b)

         

         

        (For Imported Goods)

          (For Export Goods)

        1.

        Australian Dollar

        61.15

        59.45

        3.

        Canadian Dollar

        65.00

        63.30

        9.

        New Zealand Dollar

        53.50

        51.95

        10.

        Norwegian Kroner

        11.30

        10.95

        11.

        Pound Sterling

        106.00

        103.25

        12.

        Singapore Dollar

        53.40

        52.05

        13.

        South African Rand

        6.75

        6.35

        These rates will be effective from 30th August, 2013.

        Exchange rate notification updates rupee conversion rates for specified foreign currencies, changing import and export valuation rates. An amendment under Section 14 of the Customs Act, 1962 substitutes entries in SCHEDULE I of a customs notification to set distinct rupee conversion rates for specified foreign currencies, providing separate rates for imported and exported goods and taking effect on the stated effective date.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Exchange rate notification updates rupee conversion rates for specified foreign currencies, changing import and export valuation rates.

                                An amendment under Section 14 of the Customs Act, 1962 substitutes entries in SCHEDULE I of a customs notification to set distinct rupee conversion rates for specified foreign currencies, providing separate rates for imported and exported goods and taking effect on the stated effective date.


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