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        Case ID :

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

        May 21, 2015

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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.44/2015-CUSTOMS (N.T.), dated the 07th May, 2015 vide number S.O.1222 (E), dated the 07th  May, 2015, 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 22nd  May, 2015 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

        50.95

        49.65

        2.

        Bahrain Dinar

        173.95

        164.45

        3.

        Canadian Dollar               

        52.90

        51.65

        4.

        Danish Kroner

        9.65

        9.40

        5.

        EURO

        71.85

        70.05

        6.

        Hong Kong Dollar

        8.30

        8.15

        7.

        Kuwait Dinar

        217.40

        205.10

        8.

        New Zealand Dollar

        47.40

        46.00

        9.

        Norwegian Kroner

        8.55

        8.30

        10.

        Pound Sterling

        100.30

        98.05

        11.

        Singapore Dollar

        48.35

        47.20

        12.

        South African Rand

        5.55

        5.25

        13.

        Saudi Arabian Riyal

        17.50

        16.55

        14.

        Swedish Kroner

        7.75

        7.55

        15.

        Swiss Franc

        69.10

        67.45

        16.

        UAE Dirham

        17.85

        16.90

        17.

        US Dollar

        64.30

        63.25

         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

        53.25

        52.00

        2.

        Kenya Shilling

        67.85

        64.00

         
        Rate of exchange updated for specified foreign currencies, fixing conversion rates for import and export valuation under customs law. Determination under Section 14 of the Customs Act, 1962 fixes the rate of exchange for specified foreign currencies for assessing imported and exported goods, superseding an earlier notification and prescribing distinct conversion rates for imports and exports effective from the stated date, to be applied in customs declarations and related valuation procedures.
                          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.

                                Rate of exchange updated for specified foreign currencies, fixing conversion rates for import and export valuation under customs law.

                                Determination under Section 14 of the Customs Act, 1962 fixes the rate of exchange for specified foreign currencies for assessing imported and exported goods, superseding an earlier notification and prescribing distinct conversion rates for imports and exports effective from the stated date, to be applied in customs declarations and related valuation procedures.





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                                Topics

                                ActsIncome Tax
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