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of <h1>India Updates Exchange Rates for Import Duties Under Customs Act and Indian Stamp Act, Effective October 1, 2001.</h1> The Central Government of India has amended Notification No. 38/2001-Cus. (N.T.) concerning exchange rates for imported goods, effective from October 1, 2001. This amendment, enacted under the Indian Stamp Act, 1899, and the Customs Act, 1962, specifies the exchange rates for various foreign currencies against the Indian Rupee for calculating stamp duty and customs purposes. The notification lists exchange rates for currencies such as the US Dollar, Euro, Pound Sterling, and others in two schedules, detailing rates for one unit or 100 units of foreign currency.
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