Exchange rate determination for imports sets prescribed currency conversion rates for customs valuation and compliance. The Board, under the Customs Act, fixes the rate of exchange for specified foreign currencies into Indian rupees for purposes of imports, superseding the prior notification and requiring use of the appended schedules of conversion rates from the stated commencement date for customs valuation, duty computation, and related compliance.
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Provisions expressly mentioned in the judgment/order text.
Exchange rate determination for imports sets prescribed currency conversion rates for customs valuation and compliance.
The Board, under the Customs Act, fixes the rate of exchange for specified foreign currencies into Indian rupees for purposes of imports, superseding the prior notification and requiring use of the appended schedules of conversion rates from the stated commencement date for customs valuation, duty computation, and related compliance.
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