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of <h1>New Customs Exchange Rates for Foreign Currencies Effective from Dec 16, 2022, Under Customs Act, 1962.</h1> Notification No. 109/2022-Customs (N.T.) issued by the Central Board of Indirect Taxes and Customs specifies the exchange rates for converting various foreign currencies into Indian Rupees for the purpose of customs valuation under the Customs Act, 1962. Effective from December 16, 2022, this notification supersedes the previous Notification No. 101/2022. The rates are detailed in two schedules: Schedule I lists rates for individual units of foreign currencies like the US Dollar, Euro, and others, while Schedule II provides rates for 100 units of currencies like the Japanese Yen and Korean Won. This notification was later superseded by Notification No. 02/2023 effective January 6, 2023.
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