Exchange rate determination: prescribed conversion rates for specified foreign currencies for stamp duty and customs valuation. The Central Government prescribes the rate of exchange for specified foreign currencies for the purposes of 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, superseding the earlier notification and fixing each listed currency's equivalent to Rs. 100 in the Schedule for statutory and customs conversion purposes.
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: prescribed conversion rates for specified foreign currencies for stamp duty and customs valuation.
The Central Government prescribes the rate of exchange for specified foreign currencies for the purposes of 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, superseding the earlier notification and fixing each listed currency's equivalent to Rs. 100 in the Schedule for statutory and customs conversion purposes.
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