Exchange rate determination for export goods sets authoritative currency conversion rates, superseding earlier notification under customs law. The Central Government, exercising powers under the Customs Act, determines fixed rates of exchange for the conversion of specified foreign currencies into Indian rupees for export goods, superseding the earlier notification. The determination is effected through two schedules: one specifying rates per single unit of certain currencies and the other specifying rates per one hundred units for other currencies, and those listed rates are to be used for conversion in customs and export-related processes.
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 authoritative currency conversion rates, superseding earlier notification under customs law.
The Central Government, exercising powers under the Customs Act, determines fixed rates of exchange for the conversion of specified foreign currencies into Indian rupees for export goods, superseding the earlier notification. The determination is effected through two schedules: one specifying rates per single unit of certain currencies and the other specifying rates per one hundred units for other currencies, and those listed rates are to be used for conversion in customs and export-related processes.
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