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        Case ID :
        Income Tax

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

        March 21, 2014

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        In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.15/2014-CUSTOMS (N.T.), dated the 6th March, 2014 vide number S.O.694 (E), dated the 6th March, 2014, except as respects things done or omitted to be done before such super session, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and  Schedule II annexed hereto into Indian currency or vice versa shall, with effect from 21st March, 2014 be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.

        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

        55.85

        54.50

        2.

        Bahrain Dinar

        167.10

        157.90

        3.

        Canadian Dollar 

        55.10

        53.75

        4.

        Danish Kroner

        11.55

        11.15

        5.

        EURO

        85.65

        83.65

        6.

        Hong Kong Dollar

        7.95

        7.80

        7.

        Kuwait Dinar

        223.75

        211.35

        8.

        New Zealand Dollar

        52.95

        51.45

        9.

        Norwegian Kroner

        10.25

        9.95

        10.

        Pound Sterling

        102.45

        100.20

        11.

        Singapore Dollar

        48.60

        47.55

        12.

        South African Rand

        5.80

        5.45

        13.

        Saudi Arabian Riyal

        16.80

        15.90

        14.

        Swedish Kroner

        9.70

        9.40

        15.

        Swiss Franc

        70.35

        68.60

        16.

        UAE Dirham

        17.15

        16.20

        17.

        US Dollar

        61.75

        60.75

         

        SCHEDULE-II

        S. No.

        Foreign Currency

        Rate of exchange of 100 units of foreign currency equivalent to Indian rupees

        (1)

        (2)

        (3)

          

        (a)

        (b)

          

        (For Imported Goods)

          (For Export Goods)

        1.

        Japanese Yen

        60.55

        59.10

        2.

        Kenya Shilling

        73.00

        68.85

        Exchange rate determination under Customs Act: prescribed import and export currency rates set for customs valuation, effective immediately. Determination of exchange rates under the Customs Act prescribes specified conversion rates for listed foreign currencies for import and export goods, distinguishes import and export columns, organizes rates in Schedule I (per unit) and Schedule II (per 100 units), and supersedes the prior notification with effect from 21 March 2014 for customs valuation and related processing.
                      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 determination under Customs Act: prescribed import and export currency rates set for customs valuation, effective immediately.

                            Determination of exchange rates under the Customs Act prescribes specified conversion rates for listed foreign currencies for import and export goods, distinguishes import and export columns, organizes rates in Schedule I (per unit) and Schedule II (per 100 units), and supersedes the prior notification with effect from 21 March 2014 for customs valuation and related processing.


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