Exchange rate determination sets official conversion rates for foreign currencies to compute stamp duty and customs valuation. The Central Government prescribes official rates of exchange for specified foreign currencies to be used in conversion into Indian rupees for calculating stamp duty under the Indian Stamp Act and for application of section 14 of the Customs Act in respect of imported goods, effective from the stated commencement date; the annexed Schedules I and II fix conversion rates per unit or per 100 units for listed currencies and operate as the authoritative figures for statutory conversion.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exchange rate determination sets official conversion rates for foreign currencies to compute stamp duty and customs valuation.
The Central Government prescribes official rates of exchange for specified foreign currencies to be used in conversion into Indian rupees for calculating stamp duty under the Indian Stamp Act and for application of section 14 of the Customs Act in respect of imported goods, effective from the stated commencement date; the annexed Schedules I and II fix conversion rates per unit or per 100 units for listed currencies and operate as the authoritative figures for statutory conversion.
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