Exchange rate determination set for conversion into Indian currency, governing stamp duty and customs calculations. The Central Government, exercising powers under the Indian Stamp Act and the Customs Act, prescribes specified rates of exchange for listed foreign currencies to be applied in converting between those currencies and Indian currency. The notification supersedes an earlier notification and fixes the conversion rates via a Schedule, which serves as the operative basis for computing stamp duty and for determinations under Section 14 of the Customs Act.
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 set for conversion into Indian currency, governing stamp duty and customs calculations.
The Central Government, exercising powers under the Indian Stamp Act and the Customs Act, prescribes specified rates of exchange for listed foreign currencies to be applied in converting between those currencies and Indian currency. The notification supersedes an earlier notification and fixes the conversion rates via a Schedule, which serves as the operative basis for computing stamp duty and for determinations under Section 14 of the Customs Act.
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