Exchange Rate Determination: prescribed rupee equivalents for specified foreign currencies apply to import and export valuation. The Central Board of Excise and Customs prescribes official rupee equivalents for specified foreign currencies for conversion into Indian rupees and vice versa, with distinct rates for imported goods and for export goods set out in two schedules; the notification, issued under the Customs Act, supersedes the prior currency notification except as to past actions and establishes the operative exchange rates for customs valuation purposes.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exchange Rate Determination: prescribed rupee equivalents for specified foreign currencies apply to import and export valuation.
The Central Board of Excise and Customs prescribes official rupee equivalents for specified foreign currencies for conversion into Indian rupees and vice versa, with distinct rates for imported goods and for export goods set out in two schedules; the notification, issued under the Customs Act, supersedes the prior currency notification except as to past actions and establishes the operative exchange rates for customs valuation purposes.
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