Exchange rate determination for export goods sets official conversion rates to govern customs valuation and export compliance. The Central Government determines exchange rates for conversion between specified foreign currencies and Indian rupees for export goods, superseding a prior notification and prescribing operative rates in two Schedules: Schedule I lists per unit rates for major currencies and Schedule II lists rates per one hundred units for other currencies, to be applied for export valuation and related customs formalities.
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Provisions expressly mentioned in the judgment/order text.
Exchange rate determination for export goods sets official conversion rates to govern customs valuation and export compliance.
The Central Government determines exchange rates for conversion between specified foreign currencies and Indian rupees for export goods, superseding a prior notification and prescribing operative rates in two Schedules: Schedule I lists per unit rates for major currencies and Schedule II lists rates per one hundred units for other currencies, to be applied for export valuation and related customs formalities.
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