Exchange rate determination for export goods fixes specified foreign-currency to rupee conversion rates for customs valuation. The Central Government, under the Customs Act, determines specified foreign-currency-to-Indian-rupee conversion rates for export goods effective 1 July 1994, superseding the earlier notification. The notification prescribes rates in two schedules: Schedule I for one unit of certain currencies and Schedule II for one hundred units of others; those listed rates are to be used for customs conversion and valuation of export goods.
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Provisions expressly mentioned in the judgment/order text.
Exchange rate determination for export goods fixes specified foreign-currency to rupee conversion rates for customs valuation.
The Central Government, under the Customs Act, determines specified foreign-currency-to-Indian-rupee conversion rates for export goods effective 1 July 1994, superseding the earlier notification. The notification prescribes rates in two schedules: Schedule I for one unit of certain currencies and Schedule II for one hundred units of others; those listed rates are to be used for customs conversion and valuation of export goods.
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