Exchange rate determination: updated foreign currency conversion rates govern valuation for imports and exports under Customs Act, effective immediately. Determination of exchange rates under section 14 of the Customs Act, 1962 prescribes distinct conversion rates for specified foreign currencies for imported and exported goods, effective from 3rd July 2020, superseding the prior notification except as to past actions; Schedule I lists per-unit rates and Schedule II lists per-hundred-unit rates for certain currencies for customs valuation 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: updated foreign currency conversion rates govern valuation for imports and exports under Customs Act, effective immediately.
Determination of exchange rates under section 14 of the Customs Act, 1962 prescribes distinct conversion rates for specified foreign currencies for imported and exported goods, effective from 3rd July 2020, superseding the prior notification except as to past actions; Schedule I lists per-unit rates and Schedule II lists per-hundred-unit rates for certain currencies for customs valuation purposes.
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