Exchange Rate Determination sets customs conversion rates for import and export goods under statutory customs authority. Determination of exchange rates prescribes rupee equivalents for specified foreign currencies to be used in valuation of imported and exported goods, effective from 20th February, 2015, superseding the prior notification. Two schedules govern application: Schedule I sets per unit rates with separate import and export entries for major convertible currencies; Schedule II sets rates per one hundred units where customary. The rates are issued under statutory customs authority and apply prospectively except as to prior completed actions or omissions.
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 sets customs conversion rates for import and export goods under statutory customs authority.
Determination of exchange rates prescribes rupee equivalents for specified foreign currencies to be used in valuation of imported and exported goods, effective from 20th February, 2015, superseding the prior notification. Two schedules govern application: Schedule I sets per unit rates with separate import and export entries for major convertible currencies; Schedule II sets rates per one hundred units where customary. The rates are issued under statutory customs authority and apply prospectively except as to prior completed actions or omissions.
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