Exchange rate determination fixes prescribed currency to rupee conversion rates for export goods, replacing prior notification and guiding customs valuation. The Central Government, under its Customs Act authority, prescribes fixed conversion rates for specified foreign currencies into Indian rupees and vice versa for export goods, superseding the prior notification; rates are set out in two schedules (per unit and per 100 unit listings) and are to be applied for customs valuation and export procedures from the notified commencement.
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 prescribed currency to rupee conversion rates for export goods, replacing prior notification and guiding customs valuation.
The Central Government, under its Customs Act authority, prescribes fixed conversion rates for specified foreign currencies into Indian rupees and vice versa for export goods, superseding the prior notification; rates are set out in two schedules (per unit and per 100 unit listings) and are to be applied for customs valuation and export procedures from the notified commencement.
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