Exchange rate determination for export goods: prescribed foreign currency conversion rates set as operative benchmarks under customs notification. The Central Government, exercising powers under the Customs Act, prescribes by notification the rates of exchange for specified foreign currencies in relation to Indian currency for export goods; the notification fixes the equivalent of each listed foreign currency to Rs.100 as the operative conversion rate and takes effect from the stated commencement date, with a Schedule enumerating the currencies and corresponding rates to be applied in customs procedures for exports.
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: prescribed foreign currency conversion rates set as operative benchmarks under customs notification.
The Central Government, exercising powers under the Customs Act, prescribes by notification the rates of exchange for specified foreign currencies in relation to Indian currency for export goods; the notification fixes the equivalent of each listed foreign currency to Rs.100 as the operative conversion rate and takes effect from the stated commencement date, with a Schedule enumerating the currencies and corresponding rates to be applied in customs procedures for exports.
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