Exchange rate determination for imported goods set as official conversion rates governing stamp duty and customs valuation. The Central Government prescribes official foreign-exchange conversion rates, effective 1 March 1999, for calculating stamp duty under the Indian Stamp Act and for determinations under section 14 of the Customs Act relating to imported goods, superseding the earlier notification. The prescribed rates appear in two schedules: Schedule I sets rates per one unit of specified currencies and Schedule II sets rates per one hundred units, to be used for conversion into Indian rupees and vice versa.
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 for imported goods set as official conversion rates governing stamp duty and customs valuation.
The Central Government prescribes official foreign-exchange conversion rates, effective 1 March 1999, for calculating stamp duty under the Indian Stamp Act and for determinations under section 14 of the Customs Act relating to imported goods, superseding the earlier notification. The prescribed rates appear in two schedules: Schedule I sets rates per one unit of specified currencies and Schedule II sets rates per one hundred units, to be used for conversion into Indian rupees and vice versa.
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