Exchange rate determination: prescribed conversion rates govern valuation of imported goods and stamp duty under relevant Acts. The Central Government prescribes exchange rates for specified foreign currencies for purposes of calculating stamp duty under the Indian Stamp Act, 1899 and for valuation of imported goods under the Customs Act, 1962, superseding the prior notification; the rates set forth in Schedule I and Schedule II shall apply to conversions into or from Indian currency with effect from 1st March, 1996.
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: prescribed conversion rates govern valuation of imported goods and stamp duty under relevant Acts.
The Central Government prescribes exchange rates for specified foreign currencies for purposes of calculating stamp duty under the Indian Stamp Act, 1899 and for valuation of imported goods under the Customs Act, 1962, superseding the prior notification; the rates set forth in Schedule I and Schedule II shall apply to conversions into or from Indian currency with effect from 1st March, 1996.
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