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of <h1>India Sets New Currency Exchange Rates for Imports and Exports Under Customs Act, 1962; Effective December 3, 2021.</h1> The Government of India, through the Central Board of Indirect Taxes and Customs, issued Notification No. 96/2021 on December 2, 2021, under the Customs Act, 1962. This notification establishes the exchange rates for converting specified foreign currencies into Indian rupees for both imported and exported goods, effective from December 3, 2021. The notification supersedes the previous Notification No. 92/2021. The exchange rates for various currencies, including the US Dollar, Euro, and Japanese Yen, are detailed in two schedules, with separate rates for imports and exports. This notification was later superseded by Notification No. 98/2021 on December 16, 2021.
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