Exchange rate determination for imported goods: prescribed currency conversion rates govern stamp duty and customs valuation. The Central Government prescribes fixed exchange rates for specified foreign currencies for calculating stamp duty under the Indian Stamp Act and for determinations under section 14 of the Customs Act insofar as they relate to imported goods; a Schedule lists each currency with its corresponding conversion figure to be applied, superseding the prior notification and taking effect from the stated commencement date.
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 for imported goods: prescribed currency conversion rates govern stamp duty and customs valuation.
The Central Government prescribes fixed exchange rates for specified foreign currencies for calculating stamp duty under the Indian Stamp Act and for determinations under section 14 of the Customs Act insofar as they relate to imported goods; a Schedule lists each currency with its corresponding conversion figure to be applied, superseding the prior notification and taking effect from the stated commencement date.
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