Exchange rate determination: notified conversion rates set for specified foreign currencies for import and export goods. Determination of exchange rates for conversion between specified foreign currencies and Indian rupees is made under the Customs Act, superseding the prior notification, and prescribing distinct rates for imported and export goods effective from 2nd December, 2016. The notification implements two schedules: Schedule I sets rates per one unit of currency with separate import and export columns; Schedule II sets rates per one hundred units where applicable, thereby fixing the conversion rates used for customs valuation and related import-export procedures.
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: notified conversion rates set for specified foreign currencies for import and export goods.
Determination of exchange rates for conversion between specified foreign currencies and Indian rupees is made under the Customs Act, superseding the prior notification, and prescribing distinct rates for imported and export goods effective from 2nd December, 2016. The notification implements two schedules: Schedule I sets rates per one unit of currency with separate import and export columns; Schedule II sets rates per one hundred units where applicable, thereby fixing the conversion rates used for customs valuation and related import-export procedures.
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