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of <h1>Central Government Sets New Exchange Rates for Stamp Duty & Customs Valuation, Effective October 1, 1994</h1> Notification No. 47/94-Cus. (N.T.), dated September 27, 1994, issued by the Central Government, prescribes exchange rates for calculating stamp duty under the Indian Stamp Act, 1899, and for determining values under section 14 of the Customs Act, 1962, for imported goods. Effective October 1, 1994, the exchange rates for various foreign currencies to Indian rupees are specified. Schedule-I lists rates for individual units of currencies like the U.S. Dollar at 31.55 INR, while Schedule-II provides rates for 100 units of currencies such as Japanese Yen at 32.28 INR. This notification supersedes the previous notification dated August 26, 1994.
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