Exchange rate determination for export goods sets official currency conversion rates effective from November, superseding prior notification. The Central Government, under the Customs Act powers, prescribes authoritative conversion rates for specified foreign currencies for export goods and supersedes the prior notification. Two schedules are established: Schedule I lists rates per unit for major currencies and Schedule II lists rates per 100 units for certain currencies; these prescribed rates operate as the official figures for conversion between the listed foreign currencies and Indian rupees for export-related customs purposes.
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Exchange rate determination for export goods sets official currency conversion rates effective from November, superseding prior notification.
The Central Government, under the Customs Act powers, prescribes authoritative conversion rates for specified foreign currencies for export goods and supersedes the prior notification. Two schedules are established: Schedule I lists rates per unit for major currencies and Schedule II lists rates per 100 units for certain currencies; these prescribed rates operate as the official figures for conversion between the listed foreign currencies and Indian rupees for export-related customs purposes.
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