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of <h1>Central Government Sets 1995 Exchange Rates for Stamp Duty and Customs Duties Under Indian Stamp Act and Customs Act</h1> The notification issued by the Central Government on December 28, 1994, under the Indian Stamp Act, 1899, and the Customs Act, 1962, prescribes the exchange rates for calculating stamp duty and determining customs duties on imported goods. Effective January 1, 1995, the rates for converting specified foreign currencies into Indian rupees are detailed in two schedules. Schedule I lists the exchange rates for one unit of various currencies, including the U.S. Dollar at 31.55 INR and the Pound Sterling at 48.78 INR. Schedule II provides rates for 100 units of currencies like the Japanese Yen at 31.44 INR.
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