Exchange rate notification sets conversion rates for imported goods, determining rates for stamp duty and customs valuation. The Central Government, under section 20(2) of the Indian Stamp Act and section 14(3)(a)(i) of the Customs Act, prescribes specific foreign currency conversion rates for calculating stamp duty and determines the rates applicable to imported goods for the purposes of section 14; the Schedule sets the rate of each listed foreign currency equivalent to Rs. 100 to be used for conversion into Indian currency or vice versa, effective from the 1st day of December, 1992.
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Provisions expressly mentioned in the judgment/order text.
Exchange rate notification sets conversion rates for imported goods, determining rates for stamp duty and customs valuation.
The Central Government, under section 20(2) of the Indian Stamp Act and section 14(3)(a)(i) of the Customs Act, prescribes specific foreign currency conversion rates for calculating stamp duty and determines the rates applicable to imported goods for the purposes of section 14; the Schedule sets the rate of each listed foreign currency equivalent to Rs. 100 to be used for conversion into Indian currency or vice versa, effective from the 1st day of December, 1992.
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