Exchange rate determination for customs valuation sets official currency conversion rates for import and export transactions. Determination of exchange rates under Section 14 of the Customs Act, 1962 prescribing specific rupee conversion rates for listed foreign currencies effective 1 December 2008, superseding the prior notification of 29 October 2008. Two schedules are provided: Schedule I sets per unit rupee equivalents for major currencies with separate imported and export columns; Schedule II sets the rupee equivalent for 100 units of Japanese yen, with distinct rates for imported and export goods. These rates apply to customs valuation for import and export transactions from the effective date.
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Provisions expressly mentioned in the judgment/order text.
Exchange rate determination for customs valuation sets official currency conversion rates for import and export transactions.
Determination of exchange rates under Section 14 of the Customs Act, 1962 prescribing specific rupee conversion rates for listed foreign currencies effective 1 December 2008, superseding the prior notification of 29 October 2008. Two schedules are provided: Schedule I sets per unit rupee equivalents for major currencies with separate imported and export columns; Schedule II sets the rupee equivalent for 100 units of Japanese yen, with distinct rates for imported and export goods. These rates apply to customs valuation for import and export transactions from the effective date.
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