Exchange rate determination for imported goods prescribes official currency conversion rates for stamp duty and customs purposes. Central Government prescribes official rates of exchange for specified foreign currencies for conversion into Indian currency and vice versa, to be used for calculating stamp duty under the Indian Stamp Act, 1899 and for section 14 of the Customs Act, 1962 insofar as those provisions relate to imported goods; the notification supersedes an earlier notification and makes the rates in Schedule I (per one unit) and Schedule II (per 100 units) operative from 1st August, 1998.
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 prescribes official currency conversion rates for stamp duty and customs purposes.
Central Government prescribes official rates of exchange for specified foreign currencies for conversion into Indian currency and vice versa, to be used for calculating stamp duty under the Indian Stamp Act, 1899 and for section 14 of the Customs Act, 1962 insofar as those provisions relate to imported goods; the notification supersedes an earlier notification and makes the rates in Schedule I (per one unit) and Schedule II (per 100 units) operative from 1st August, 1998.
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