Exchange rate amendment replaces specified foreign currency rates in customs exemption schedule, altering tariff valuation methodology. The Central Government, pursuant to sub-section (3) of Section 14 of the Customs Act, 1962, amends Notification No. 374 Cus. by substituting the Schedule entries for serial numbers 3 and 8 with revised exchange-rate figures for Belgian Francs and French Francs, thereby updating the foreign-currency conversion rates used in the miscellaneous exemption notifications and tariff valuation.
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The Central Government, pursuant to sub-section (3) of Section 14 of the Customs Act, 1962, amends Notification No. 374 Cus. by substituting the Schedule entries for serial numbers 3 and 8 with revised exchange-rate figures for Belgian Francs and French Francs, thereby updating the foreign-currency conversion rates used in the miscellaneous exemption notifications and tariff valuation.
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