Exchange rate determination for export goods establishes prescribed currency conversion rates and supersedes the prior notification. The Central Government, exercising its customs statutory power, supersedes the earlier notification and prescribes fixed conversion rates for specified foreign currencies into Indian rupees for export transactions, effective 28th November 1997. The prescribed rates are set out in two schedules: Schedule I lists per unit rupee equivalents and Schedule II lists rupee equivalents for specified quantities, thereby fixing the exchange rates applicable for customs valuation and export procedures.
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Provisions expressly mentioned in the judgment/order text.
Exchange rate determination for export goods establishes prescribed currency conversion rates and supersedes the prior notification.
The Central Government, exercising its customs statutory power, supersedes the earlier notification and prescribes fixed conversion rates for specified foreign currencies into Indian rupees for export transactions, effective 28th November 1997. The prescribed rates are set out in two schedules: Schedule I lists per unit rupee equivalents and Schedule II lists rupee equivalents for specified quantities, thereby fixing the exchange rates applicable for customs valuation and export procedures.
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