Exchange rate determination sets official conversion rates for imported goods and stamp duty, superseding the prior notification. The Central Government, exercising powers under the Indian Stamp Act and the Customs Act, supersedes Notification No. 45/96 and prescribes official exchange rates for specified foreign currencies effective 1 November 1996. The notification provides two schedules: Schedule I giving Indian-rupee equivalents per one unit of listed currencies, and Schedule II giving equivalents per 100 units for certain currencies, to be applied for stamp duty calculation and customs purposes relating to imported goods.
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 sets official conversion rates for imported goods and stamp duty, superseding the prior notification.
The Central Government, exercising powers under the Indian Stamp Act and the Customs Act, supersedes Notification No. 45/96 and prescribes official exchange rates for specified foreign currencies effective 1 November 1996. The notification provides two schedules: Schedule I giving Indian-rupee equivalents per one unit of listed currencies, and Schedule II giving equivalents per 100 units for certain currencies, to be applied for stamp duty calculation and customs purposes relating to imported goods.
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