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of <h1>New Notification Sets Exchange Rates for Stamp and Customs Duties Effective January 1, 1999, Under Indian Laws</h1> Notification No. 101/98-Cus. (N.T.), dated December 30, 1998, supersedes Notification No. 94/98-Cus. (N.T.). It prescribes exchange rates for calculating stamp duty under the Indian Stamp Act, 1899, and for determining customs duties under the Customs Act, 1962, for imported goods. Effective January 1, 1999, the specified exchange rates convert foreign currencies into Indian rupees. Schedule I lists rates for individual units of foreign currencies like the U.S. Dollar at 42.75 INR, while Schedule II lists rates for 100 units of currencies such as the Japanese Yen at 37.00 INR.
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