Exchange rate determination set for foreign currencies, governing conversion for stamp duty and customs Act purposes. Prescribes a statutory schedule of foreign currency conversion rates to be used for calculating stamp duty and for conversion under customs law. The Central Government, exercising statutory powers and superseding the prior notification, designates specific exchange rates for each listed foreign currency to be applied in conversions between those currencies and Indian currency, thereby standardising conversion practice for stamp duty assessment and customs purposes.
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 foreign currencies, governing conversion for stamp duty and customs Act purposes.
Prescribes a statutory schedule of foreign currency conversion rates to be used for calculating stamp duty and for conversion under customs law. The Central Government, exercising statutory powers and superseding the prior notification, designates specific exchange rates for each listed foreign currency to be applied in conversions between those currencies and Indian currency, thereby standardising conversion practice for stamp duty assessment and customs purposes.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
