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of <h1>Central Government Sets Currency Exchange Rates for Stamp Duty and Import Valuation: Effective September 1, 1993</h1> Notification No. 42/93-Cus. (N.T.), dated August 27, 1993, issued by the Central Government, prescribes exchange rates for calculating stamp duty under the Indian Stamp Act, 1899, and for determining the value of imported goods under the Customs Act, 1962. Effective September 1, 1993, the notification specifies the conversion rates for various foreign currencies into Indian Rupees. Schedule I lists rates for individual units of currencies such as the U.S. Dollar at 31.55 INR and the Pound Sterling at 46.78 INR. Schedule II provides rates for 100 units of currencies like the Japanese Yen at 30.00 INR.
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