Exchange rate determination under Customs Act sets conversion rates for specified foreign currencies for import and export goods. Determination of rate of exchange under section 14 of the Customs Act, 1962 prescribes specific conversion rates for listed foreign currencies, with separate rates for imported and export goods, annexed as Schedule I (per unit) and Schedule II (per 100 units). The notification supersedes the prior exchange rate notification except as to prior actions, and the prescribed rates apply for conversion into Indian currency or vice versa for customs purposes effective from 6th October, 2017.
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 under Customs Act sets conversion rates for specified foreign currencies for import and export goods.
Determination of rate of exchange under section 14 of the Customs Act, 1962 prescribes specific conversion rates for listed foreign currencies, with separate rates for imported and export goods, annexed as Schedule I (per unit) and Schedule II (per 100 units). The notification supersedes the prior exchange rate notification except as to prior actions, and the prescribed rates apply for conversion into Indian currency or vice versa for customs purposes effective from 6th October, 2017.
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