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<h1>CBIC Notification 99/2018 Sets Exchange Rates for Foreign Currencies to INR for Imports/Exports, Effective December 21, 2018.</h1> Notification No. 99/2018 issued by the Central Board of Indirect Taxes and Customs on December 20, 2018, under the Customs Act, 1962, sets the exchange rates for converting specified foreign currencies into Indian rupees for imported and exported goods. Effective from December 21, 2018, the notification supersedes Notification No. 96/2018 dated December 6, 2018. The exchange rates are detailed in two schedules: Schedule I lists rates for one unit of various currencies, while Schedule II provides rates for 100 units of Japanese Yen and Korean Won. This notification was later superseded by Notification No. 02/2019 on January 3, 2019.
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