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of <h1>India Updates Currency Exchange Rates for Imports/Exports Under Customs Act, 1962 via Notification No. 36/2023.</h1> The Government of India, through the Central Board of Indirect Taxes and Customs, issued Notification No. 36/2023 on May 18, 2023, under the Customs Act, 1962. This notification supersedes the previous Notification No. 33/2023 and establishes new exchange rates for converting specified foreign currencies into Indian rupees for imported and exported goods. Effective from May 19, 2023, the rates are detailed in two schedules: Schedule I lists individual foreign currencies like the US Dollar, Euro, and Australian Dollar, while Schedule II covers 100 units of currencies like the Japanese Yen and Korean Won.
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