Exchange rate notification sets binding conversion rates for stamp duty calculation and customs valuation on imports. Prescribes binding rate of exchange determinations for conversion between specified foreign currencies and Indian rupees for calculating stamp duty under the Indian Stamp Act, 1899 and for purposes of section 14 of the Customs Act, 1962 in relation to imported goods, superseding the earlier notification, and states that the conversion rates set out in Schedule I (per one unit) and Schedule II (per one hundred units) are the operative rates to be applied.
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Provisions expressly mentioned in the judgment/order text.
Exchange rate notification sets binding conversion rates for stamp duty calculation and customs valuation on imports.
Prescribes binding rate of exchange determinations for conversion between specified foreign currencies and Indian rupees for calculating stamp duty under the Indian Stamp Act, 1899 and for purposes of section 14 of the Customs Act, 1962 in relation to imported goods, superseding the earlier notification, and states that the conversion rates set out in Schedule I (per one unit) and Schedule II (per one hundred units) are the operative rates to be applied.
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