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of <h1>India Sets New Forex Rates for Imports/Exports Under Customs Act Section 14; Notification No. 80/2021 Replaces No. 74/2021.</h1> The Government of India, through the Ministry of Finance and the Central Board of Indirect Taxes and Customs, issued Notification No. 80/2021 on October 7, 2021, under section 14 of the Customs Act, 1962. This notification supersedes the previous Notification No. 74/2021 and prescribes the exchange rates for converting specified foreign currencies into Indian rupees for imported and exported goods, effective from October 8, 2021. The rates are detailed in two schedules, with Schedule I listing rates for one unit of various currencies and Schedule II for 100 units of certain currencies, including the Japanese Yen and Korean Won.
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