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of <h1>India Sets Exchange Rates for Stamp Duty and Customs Valuation Under Section 14 of Customs Act 1962</h1> The Central Government of India issued Notification No. 26/93-Cus. (N.T.) on March 29, 1993, establishing exchange rates for foreign currencies used in 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 April 1, 1993, the notification lists specific exchange rates for various foreign currencies against Indian currency. These rates apply to currencies such as the Austrian Schilling, Australian Dollar, Belgian Franc, Canadian Dollar, and others, including the U.S. Dollar, which is set at 3.1650 per Rs. 100.
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