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of <h1>Central Government Sets New Exchange Rates for Stamp Duty and Customs Valuation Effective May 1, 1994, Under Section 14.</h1> Notification No. 17/94-Cus. (N.T.), dated April 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 May 1, 1994, the exchange rates for various foreign currencies to Indian rupees are specified. For example, one Austrian Schilling is set at 2.67 INR, one U.S. Dollar at 31.55 INR, and 100 Japanese Yen at 30.59 INR. This notification supersedes the previous notification No. 13/94-Customs (N.T.).
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