Exchange rate determination establishes official foreign currency conversion rates for import and export valuation and customs purposes. The Central Board of Excise and Customs, exercising statutory customs powers, fixes the rate of exchange to be used for valuation of imported and exported goods, prescribing separate import and export conversion rates for specified foreign currencies in two schedules. These rates take effect from 21st November, 2014 and the notification supersedes the earlier November 2014 exchange rate notification except as to actions already completed under that earlier instrument.
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Provisions expressly mentioned in the judgment/order text.
Exchange rate determination establishes official foreign currency conversion rates for import and export valuation and customs purposes.
The Central Board of Excise and Customs, exercising statutory customs powers, fixes the rate of exchange to be used for valuation of imported and exported goods, prescribing separate import and export conversion rates for specified foreign currencies in two schedules. These rates take effect from 21st November, 2014 and the notification supersedes the earlier November 2014 exchange rate notification except as to actions already completed under that earlier instrument.
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