Exchange rate determination under Customs Act prescribes official currency conversion rates for export goods, effective from the stated date. The Board, under section 14(3)(a)(i) of the Customs Act, prescribes specified conversion rates for listed foreign currencies for export goods effective 1st April, 2003, superseding the prior notification. Rates are presented in two Schedules: Schedule I for one unit equivalents and Schedule II for one hundred unit equivalents, providing the operative rupee conversion figures to be used in customs valuation and export transactions.
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Exchange rate determination under Customs Act prescribes official currency conversion rates for export goods, effective from the stated date.
The Board, under section 14(3)(a)(i) of the Customs Act, prescribes specified conversion rates for listed foreign currencies for export goods effective 1st April, 2003, superseding the prior notification. Rates are presented in two Schedules: Schedule I for one unit equivalents and Schedule II for one hundred unit equivalents, providing the operative rupee conversion figures to be used in customs valuation and export transactions.
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