Exchange rate determination for export goods sets revised foreign-currency conversion rates into Indian currency for customs. The Central Government, under the Customs Act, 1962, supersedes a prior notification and fixes rate of exchange conversions for export goods by specifying operative conversion rates in Schedule I (rupee value per one unit of listed currencies) and Schedule II (rupee value per one hundred units of listed currencies); those rates apply from the commencement date set in the notification for customs valuation and export procedures.
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 for export goods sets revised foreign-currency conversion rates into Indian currency for customs.
The Central Government, under the Customs Act, 1962, supersedes a prior notification and fixes rate of exchange conversions for export goods by specifying operative conversion rates in Schedule I (rupee value per one unit of listed currencies) and Schedule II (rupee value per one hundred units of listed currencies); those rates apply from the commencement date set in the notification for customs valuation and export procedures.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
