Exchange rate determination sets the statutory conversion rate for the Russian rouble to apply in customs valuation and conversion. The Central Government, under sub-clause (i) of clause (a) of sub-section (3) of Section 14 of the Customs Act, 1962, prescribes the rate of exchange for conversion of one Russian rouble into Indian currency or vice versa for customs purposes, superseding the earlier notification; the newly prescribed exchange rate is declared effective from the stated date and applies to customs valuation and statutory conversion requirements.
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 sets the statutory conversion rate for the Russian rouble to apply in customs valuation and conversion.
The Central Government, under sub-clause (i) of clause (a) of sub-section (3) of Section 14 of the Customs Act, 1962, prescribes the rate of exchange for conversion of one Russian rouble into Indian currency or vice versa for customs purposes, superseding the earlier notification; the newly prescribed exchange rate is declared effective from the stated date and applies to customs valuation and statutory conversion requirements.
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