Exchange rate determination fixes conversion rates for export goods, superseding prior notification and governing customs conversion. Determination of exchange rates for export goods under the Customs Act supersedes the earlier notification and prescribes legally binding conversion rates. Two schedules accompany the determination: Schedule I gives rupee equivalents per one unit of specified currencies, and Schedule II gives rupee equivalents per one hundred units for certain currencies. The notification applies to export goods and takes effect from the stated commencement date for use in customs valuation and export formalities.
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 fixes conversion rates for export goods, superseding prior notification and governing customs conversion.
Determination of exchange rates for export goods under the Customs Act supersedes the earlier notification and prescribes legally binding conversion rates. Two schedules accompany the determination: Schedule I gives rupee equivalents per one unit of specified currencies, and Schedule II gives rupee equivalents per one hundred units for certain currencies. The notification applies to export goods and takes effect from the stated commencement date for use in customs valuation and export formalities.
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