Exchange Rate Notification updates foreign currency conversion for import and export to align customs valuation methods. The Central Board of Excise and Customs, exercising powers under section 14 of the Customs Act, 1962, substitutes the serial No. 1 entry in SCHEDULE-II of Notification No. 87/2016-Cus (N.T.) to prescribe revised rupee equivalences for Japanese Yen for import and export, thereby altering the exchange rates applied for customs valuation and assessment.
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Provisions expressly mentioned in the judgment/order text.
Exchange Rate Notification updates foreign currency conversion for import and export to align customs valuation methods.
The Central Board of Excise and Customs, exercising powers under section 14 of the Customs Act, 1962, substitutes the serial No. 1 entry in SCHEDULE-II of Notification No. 87/2016-Cus (N.T.) to prescribe revised rupee equivalences for Japanese Yen for import and export, thereby altering the exchange rates applied for customs valuation and assessment.
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