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of <h1>India Updates Currency Exchange Rates for Customs and Stamp Duty: Notification No. 2/2001-Customs (N.T.)</h1> The Government of India issued Notification No. 2/2001-Customs (N.T.) on January 25, 2001, under the Indian Stamp Act, 1899, and the Customs Act, 1962. This notification supersedes a previous notification and sets the exchange rates for converting specified foreign currencies into Indian Rupees for the purposes of calculating stamp duty and determining customs duties on imported goods. The rates are effective from February 1, 2001. The notification includes two schedules listing the exchange rates for various currencies, such as the US Dollar, Euro, and Japanese Yen, among others.
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