Exchange rate determination sets official conversion rates for imported goods, governing stamp duty and customs valuation consequences. The Central Government prescribes official exchange rates for specified foreign currencies to be used in converting foreign currency into Indian rupees for calculating stamp duty under the Indian Stamp Act, 1899 and for the purposes of section 14 of the Customs Act, 1962 insofar as they relate to imported goods, effective from the first day of February, 1995, and superseding the earlier notification; two schedules set the specific unit and per hundred unit rates.
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 sets official conversion rates for imported goods, governing stamp duty and customs valuation consequences.
The Central Government prescribes official exchange rates for specified foreign currencies to be used in converting foreign currency into Indian rupees for calculating stamp duty under the Indian Stamp Act, 1899 and for the purposes of section 14 of the Customs Act, 1962 insofar as they relate to imported goods, effective from the first day of February, 1995, and superseding the earlier notification; two schedules set the specific unit and per hundred unit rates.
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