Exchange rate determination for export goods fixes specified foreign currency conversion rates into Indian currency for customs purposes. The Central Government prescribes, under a Customs Act provision, specific conversion rates between listed foreign currencies and Indian currency for purposes relating to export goods. A Schedule accompanies the notification listing each foreign currency and the foreign-currency equivalent to a fixed rupee amount; those prescribed rates apply for customs conversions and valuation of export goods during the notification's effective period.
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 export goods fixes specified foreign currency conversion rates into Indian currency for customs purposes.
The Central Government prescribes, under a Customs Act provision, specific conversion rates between listed foreign currencies and Indian currency for purposes relating to export goods. A Schedule accompanies the notification listing each foreign currency and the foreign-currency equivalent to a fixed rupee amount; those prescribed rates apply for customs conversions and valuation of export goods during the notification's effective period.
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