Exchange rate determination: government prescribes foreign-to-rupee rates for calculating stamp duty and customs valuation purposes. Central Government notification prescribes fixed rates of exchange for specified foreign currencies for calculating stamp duty under the Indian Stamp Act, 1899 and for the purposes of section 14 of the Customs Act, 1962. The notification, superseding the earlier notification, declares that with effect from 1 October 1988 the conversion rate for each listed currency into Indian currency or vice versa shall be the rate specified in the attached Schedule.
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 foreign-to-rupee rates for calculating stamp duty and customs valuation purposes.
Central Government notification prescribes fixed rates of exchange for specified foreign currencies for calculating stamp duty under the Indian Stamp Act, 1899 and for the purposes of section 14 of the Customs Act, 1962. The notification, superseding the earlier notification, declares that with effect from 1 October 1988 the conversion rate for each listed currency into Indian currency or vice versa shall be the rate specified in the attached Schedule.
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 
