Exchange rate determination: Government prescribes conversion rates for stamp duty and customs valuation on imported goods. The Central Government prescribes the rate of exchange for each foreign currency specified in the Schedule for purposes of calculating stamp duty under the Indian Stamp Act and determines, for the purposes of section 14 of the Customs Act insofar as these relate to imported goods, that the rate of exchange of conversion of each foreign currency into Indian currency or vice versa shall, with effect from 1 October 1992, be the rate mentioned against it in the corresponding entry of the Schedule.
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: Government prescribes conversion rates for stamp duty and customs valuation on imported goods.
The Central Government prescribes the rate of exchange for each foreign currency specified in the Schedule for purposes of calculating stamp duty under the Indian Stamp Act and determines, for the purposes of section 14 of the Customs Act insofar as these relate to imported goods, that the rate of exchange of conversion of each foreign currency into Indian currency or vice versa shall, with effect from 1 October 1992, be the rate mentioned against it in the corresponding entry of the Schedule.
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