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of <h1>India Updates Currency Exchange Rates for Customs Valuation in Notification No. 01/2020-Customs (N.T.</h1> The Government of India, through the Central Board of Indirect Taxes and Customs, issued Notification No. 01/2020-Customs (N.T.) on January 2, 2020, under the Customs Act, 1962. This notification supersedes the previous Notification No. 91/2019-CUSTOMS (N.T.) dated December 19, 2019. It sets the exchange rates for converting specified foreign currencies into Indian rupees for imported and exported goods, effective January 3, 2020. The rates are detailed in two schedules, with Schedule I listing rates for individual foreign currencies and Schedule II for 100 units of certain currencies. This notification was later superseded by Notification No. 05/2020-Customs (N.T.) on January 16, 2020.
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