Exchange Rate Determination: Government prescribes currency conversion rates for stamp duty and customs, effective prospectively. Central Government prescribes specific exchange rates for conversion between listed foreign currencies and Indian currency to calculate stamp duty under the Indian Stamp Act, 1899 and for determinations under Section 14 of the Customs Act, 1962; the notification supersedes an earlier notification and sets prospective operative rates. A Schedule lists each foreign currency with its corresponding rate expressed as the quantity of that foreign currency equivalent to a fixed amount of Indian currency, and those scheduled rates are to be used for conversions under the cited statutory provisions.
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 currency conversion rates for stamp duty and customs, effective prospectively.
Central Government prescribes specific exchange rates for conversion between listed foreign currencies and Indian currency to calculate stamp duty under the Indian Stamp Act, 1899 and for determinations under Section 14 of the Customs Act, 1962; the notification supersedes an earlier notification and sets prospective operative rates. A Schedule lists each foreign currency with its corresponding rate expressed as the quantity of that foreign currency equivalent to a fixed amount of Indian currency, and those scheduled rates are to be used for conversions under the cited statutory provisions.
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