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of <h1>India Updates Exchange Rates for Stamp Duty and Customs Duty under Notification No. 54/94-Cus. (N.T.), Effective Nov 1, 1994.</h1> The Central Government of India issued Notification No. 54/94-Cus. (N.T.) on October 27, 1994, under the Indian Stamp Act, 1899, and the Customs Act, 1962, to prescribe exchange rates for calculating stamp duty and determining customs duties for imported goods. This notification supersedes the previous notification No. 47/94-N.T.-Customs dated September 27, 1994. Effective from November 1, 1994, the exchange rates for various foreign currencies against the Indian rupee are specified in two schedules. Schedule I lists rates for single units of currencies like the U.S. Dollar and Pound Sterling, while Schedule II lists rates for 100 units of currencies like the Japanese Yen and Belgian Francs.
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