Exchange rate determination for conversion of foreign currencies to Indian currency for customs and stamp duty purposes. The Central Government, invoking the Indian Stamp Act and the Customs Act, supersedes the prior notification and determines official exchange rates to be used for calculating stamp duty and for the purposes of section 14 of the Customs Act in relation to imported goods. Two appended schedules prescribe the mandated conversion figures - Schedule I per one unit of foreign currency and Schedule II per one hundred units - to be used as the official rates from the stated commencement date.
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 for conversion of foreign currencies to Indian currency for customs and stamp duty purposes.
The Central Government, invoking the Indian Stamp Act and the Customs Act, supersedes the prior notification and determines official exchange rates to be used for calculating stamp duty and for the purposes of section 14 of the Customs Act in relation to imported goods. Two appended schedules prescribe the mandated conversion figures - Schedule I per one unit of foreign currency and Schedule II per one hundred units - to be used as the official rates from the stated commencement date.
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