Exchange rate determination for import valuation and stamp duty set, prescribing specified foreign currency conversion rates effective December. Prescribes the rate of exchange to be applied to specified foreign currencies for calculating stamp duty under the Indian Stamp Act and for purposes of section 14 of the Customs Act relating to imported goods, superseding the prior notification and fixing conversion rates effective from the stated commencement date. The notification implements two schedules: Schedule I giving rupee equivalents per one unit for certain currencies and Schedule II giving rupee equivalents per 100 units for others, and declares those scheduled rates binding for stamp duty computation and customs valuation of imports.
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Exchange rate determination for import valuation and stamp duty set, prescribing specified foreign currency conversion rates effective December.
Prescribes the rate of exchange to be applied to specified foreign currencies for calculating stamp duty under the Indian Stamp Act and for purposes of section 14 of the Customs Act relating to imported goods, superseding the prior notification and fixing conversion rates effective from the stated commencement date. The notification implements two schedules: Schedule I giving rupee equivalents per one unit for certain currencies and Schedule II giving rupee equivalents per 100 units for others, and declares those scheduled rates binding for stamp duty computation and customs valuation of imports.
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