Rate of exchange determination sets specified foreign currency conversion rates for import and export valuation under customs law. The Central Board of Excise and Customs, invoking its Customs Act powers, determines with effect from 18th March, 2016 the conversion rates of specified foreign currencies into Indian rupees for customs valuation of imported and export goods. Rates are set out in two schedules: Schedule I (per unit rates with distinct figures for imported and export goods) and Schedule II (rates per 100 units), and the notification supersedes the earlier notification except as to past actions; a subsequent note records a substitution to the South African Rand entry.
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 determination sets specified foreign currency conversion rates for import and export valuation under customs law.
The Central Board of Excise and Customs, invoking its Customs Act powers, determines with effect from 18th March, 2016 the conversion rates of specified foreign currencies into Indian rupees for customs valuation of imported and export goods. Rates are set out in two schedules: Schedule I (per unit rates with distinct figures for imported and export goods) and Schedule II (rates per 100 units), and the notification supersedes the earlier notification except as to past actions; a subsequent note records a substitution to the South African Rand entry.
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