Exchange Rate Determination: prescribed conversion rates for specified foreign currencies for import and export under the Customs Act. Under section 14 of the Customs Act, 1962 the Board determines specific conversion rates of listed foreign currencies into Indian rupees for application to imported and exported goods. The notification supersedes the earlier Board notification except as to prior actions, and sets separate rupee equivalents for import and export in Schedule I and rupee equivalents per one hundred units in Schedule II, to operate from the stated effective date for customs valuation and related purposes.
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 conversion rates for specified foreign currencies for import and export under the Customs Act.
Under section 14 of the Customs Act, 1962 the Board determines specific conversion rates of listed foreign currencies into Indian rupees for application to imported and exported goods. The notification supersedes the earlier Board notification except as to prior actions, and sets separate rupee equivalents for import and export in Schedule I and rupee equivalents per one hundred units in Schedule II, to operate from the stated effective date for customs valuation and related purposes.
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