Exchange rate determination mandates specified currency conversion rates for use in stamp duty calculation and customs valuation. The Central Government prescribes the rate of exchange for each listed foreign currency to be used for calculating stamp duty under the Indian Stamp Act and for determinations under section 14 of the Customs Act, superseding the prior notification; the Schedule supplies the operative currency conversion rates to be applied in converting foreign currency into Indian currency and vice versa for those statutory purposes.
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 mandates specified currency conversion rates for use in stamp duty calculation and customs valuation.
The Central Government prescribes the rate of exchange for each listed foreign currency to be used for calculating stamp duty under the Indian Stamp Act and for determinations under section 14 of the Customs Act, superseding the prior notification; the Schedule supplies the operative currency conversion rates to be applied in converting foreign currency into Indian currency and vice versa for those statutory purposes.
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