Exchange rate determination: prescribed customs conversion rates for specified foreign currencies govern import and export valuation. The Central Board prescribes under section 14 of the Customs Act specific rates for converting listed foreign currencies into Indian rupees and vice versa for customs assessment, with separate rates for imported and exported goods set out in Schedule I and Schedule II, and superseding the earlier notification while preserving prior acts.
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Provisions expressly mentioned in the judgment/order text.
Exchange rate determination: prescribed customs conversion rates for specified foreign currencies govern import and export valuation.
The Central Board prescribes under section 14 of the Customs Act specific rates for converting listed foreign currencies into Indian rupees and vice versa for customs assessment, with separate rates for imported and exported goods set out in Schedule I and Schedule II, and superseding the earlier notification while preserving prior acts.
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