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of <h1>Indian Government Sets New Currency Exchange Rates for Stamp Duty and Customs Value Calculations Effective March 1, 2001</h1> The Central Government of India issued Notification No. 4/2001-Customs (N.T.) on February 23, 2001, establishing exchange rates for calculating stamp duty under the Indian Stamp Act, 1899, and for determining values under the Customs Act, 1962, for imported goods. Effective March 1, 2001, the notification specifies the conversion rates of various foreign currencies into Indian Rupees. Schedule I lists individual foreign currencies such as the US Dollar, Euro, and Pound Sterling with their respective exchange rates per unit. Schedule II provides exchange rates for 100 units of currencies like the Belgian Franc, Italian Lira, and Japanese Yen.
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