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of <h1>New Notification Sets Exchange Rates for Imports Under Customs Act, Effective October 1, 1998</h1> Notification No. 75/98-Cus. (N.T.), dated September 24, 1998, issued by the Central Government, supersedes Notification No. 52/98-Cus. (N.T.) for determining exchange rates for imported goods under the Indian Stamp Act, 1899, and the Customs Act, 1962. Effective from October 1, 1998, the notification specifies the conversion rates of various foreign currencies into Indian rupees. Schedule I lists individual currency units, such as the U.S. Dollar at 42.75 INR, while Schedule II details conversion rates for 100 units of certain currencies, like the Japanese Yen at 31.50 INR.
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