Exchange rate notification: prescribed conversion rates for calculating stamp duty and customs liability on imported goods. The Central Government prescribes exchange rates for computation of stamp duty and determines conversion rates for purposes of the Customs Act in relation to imported goods, superseding the prior notification. Two appended schedules specify per-unit and per-100-unit currency conversion rates to be applied for valuation and fiscal calculation of import-related obligations.
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 notification: prescribed conversion rates for calculating stamp duty and customs liability on imported goods.
The Central Government prescribes exchange rates for computation of stamp duty and determines conversion rates for purposes of the Customs Act in relation to imported goods, superseding the prior notification. Two appended schedules specify per-unit and per-100-unit currency conversion rates to be applied for valuation and fiscal calculation of import-related obligations.
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