Exchange rate determination for export goods sets official conversion rates for specified foreign currencies for customs purposes. The Central Government, under section 14(3)(a)(i) of the Customs Act, 1962, prescribes rates of exchange for specified foreign currencies for purposes relating to export goods, effective from 1 July 1992; the Schedule lists each foreign currency with the rate expressed as the foreign currency amount equivalent to Rs.100 to be used for conversion into Indian currency and vice versa for customs export procedures.
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 sets official conversion rates for specified foreign currencies for customs purposes.
The Central Government, under section 14(3)(a)(i) of the Customs Act, 1962, prescribes rates of exchange for specified foreign currencies for purposes relating to export goods, effective from 1 July 1992; the Schedule lists each foreign currency with the rate expressed as the foreign currency amount equivalent to Rs.100 to be used for conversion into Indian currency and vice versa for customs export procedures.
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