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of <h1>India Sets New Exchange Rates for Imports/Exports Under Customs Act Section 14, Effective July 7, 2017.</h1> The Government of India's Ministry of Finance, through the Central Board of Excise and Customs, issued Notification No. 70/2017 on July 6, 2017. This notification, effective from July 7, 2017, establishes the exchange rates for converting specified foreign currencies into Indian rupees for imported and export goods, as per Section 14 of the Customs Act, 1962. The notification supersedes the earlier Notification No. 53/2017, dated June 15, 2017. The rates for various currencies, including the US Dollar, Euro, and Japanese Yen, are detailed in two schedules, specifying rates for both imported and export goods.
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