Exchange Rate Determination for imported goods fixes currency conversion rates affecting stamp duty and customs valuation. Prescribes exchange rates for specified foreign currencies to be applied in converting to Indian rupees for calculating stamp duty under the Indian Stamp Act, 1899 and for section 14 of the Customs Act, 1962 insofar as it relates to imported goods; supersedes the earlier notification and, from the first day of June, 1996, makes the rates in Schedule I (per one unit) and Schedule II (per one hundred units) the operative conversion factors.
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Provisions expressly mentioned in the judgment/order text.
Exchange Rate Determination for imported goods fixes currency conversion rates affecting stamp duty and customs valuation.
Prescribes exchange rates for specified foreign currencies to be applied in converting to Indian rupees for calculating stamp duty under the Indian Stamp Act, 1899 and for section 14 of the Customs Act, 1962 insofar as it relates to imported goods; supersedes the earlier notification and, from the first day of June, 1996, makes the rates in Schedule I (per one unit) and Schedule II (per one hundred units) the operative conversion factors.
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