Exchange rate determination for export goods sets official currency conversion rates, fixing per-unit and per-100-unit schedules applicability. The Central Government, under the Customs Act, determines official rates of exchange for conversion between specified foreign currencies and Indian rupees for export goods, superseding the prior December 27, 1995 notification and effective from the first day of February, 1996. Two schedules implement the determination: Schedule I provides rupee equivalents per one unit of listed currencies; Schedule II provides rupee equivalents per one hundred units of listed currencies.
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Provisions expressly mentioned in the judgment/order text.
Exchange rate determination for export goods sets official currency conversion rates, fixing per-unit and per-100-unit schedules applicability.
The Central Government, under the Customs Act, determines official rates of exchange for conversion between specified foreign currencies and Indian rupees for export goods, superseding the prior December 27, 1995 notification and effective from the first day of February, 1996. Two schedules implement the determination: Schedule I provides rupee equivalents per one unit of listed currencies; Schedule II provides rupee equivalents per one hundred units of listed currencies.
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