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of <h1>India Updates Exchange Rates for Stamp Duty and Customs; New Rates Effective August 1, 1995, per Notification No. 41/95-Cus.</h1> The Central Government of India has amended Notification No. 41/95-Cus. (N.T.) to establish new exchange rates for calculating stamp duty under the Indian Stamp Act, 1899, and for customs purposes under the Customs Act, 1962, effective from August 1, 1995. The amendment specifies exchange rates for various foreign currencies against the Indian rupee. For example, one U.S. Dollar is set at 31.55 Indian Rupees, and 100 Japanese Yen is equivalent to 35.89 Indian Rupees. The amendment aims to standardize the conversion rates for imported goods as outlined in Schedules I and II.
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