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of <h1>India Revises Exchange Rate for South African Rand: 4.65 INR for Imports, 4.40 INR for Exports (Notification No. 47/2016.</h1> The Government of India, through the Ministry of Finance's Department of Revenue and the Central Board of Excise and Customs, issued Notification No. 47/2016 on April 4, 2016. This notification amends Notification No. 41/2016-CUSTOMS (N.T.) dated March 17, 2016, effective from April 5, 2016. The amendment involves changes in Schedule-I, specifically for serial number 12, concerning the exchange rate of the South African Rand. The revised rates are 4.65 INR for imported goods and 4.40 INR for export goods.
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