Exchange Rate Determination: prescribed customs conversion rates for foreign currencies impact valuation of imports and exports. The Central Board of Indirect Taxes and Customs prescribes exchange rates for conversion between specified foreign currencies and Indian rupees for the purpose of customs valuation of imported and exported goods, effective 17th May, 2019, superseding the prior notification. Schedule I provides per-unit rates for each currency for imported and exported goods; Schedule II provides rates per 100 units for certain currencies, and a substitution note addresses the South African Rand.
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: prescribed customs conversion rates for foreign currencies impact valuation of imports and exports.
The Central Board of Indirect Taxes and Customs prescribes exchange rates for conversion between specified foreign currencies and Indian rupees for the purpose of customs valuation of imported and exported goods, effective 17th May, 2019, superseding the prior notification. Schedule I provides per-unit rates for each currency for imported and exported goods; Schedule II provides rates per 100 units for certain currencies, and a substitution note addresses the South African Rand.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
