In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes and Customs hereby makes the following amendments in the Central Board of Indirect Taxes and Customs Notification No.98/2021-CUSTOMS (N.T.), dated 16th December, 2021 with effect from 22nd December, 2021.

In the SCHEDULE-I of the said Notification, for serial No.18 and the entries relating thereto, the following shall be substituted, namely: -

SCHEDULE-I

Sl. No.	Foreign Currency	Rate of exchange of one unit of foreign currency equivalent to Indian rupees
	(2)	(3)
		(a)	(b)
		(For Imported Goods)	(For Export Goods)
18.	Turkish Lira	5.80	5.45

 

Exchange rate amendment for Turkish Lira revises import and export valuation rates under Customs Act by official notification. Amendment to the customs exchange rate schedule substitutes the Schedule-I entry for the Turkish Lira, supplying new rupee-equivalent rates for import and export valuation and taking effect from the Notification's stated effective date; the change amends Notification No.98/2021-CUSTOMS (N.T.) and requires application of the revised conversion rates in customs assessments and compliance.