Exchange rate determination for customs: prescribed foreign currency conversion rates apply to import and export valuation effective from 1st April. The Central Board, exercising powers under section 14 of the Customs Act, 1962, prescribes rates of exchange for conversion of specified foreign currencies into Indian rupees effective from 1 April 2011 for import and export valuation, superseding the earlier notification. The determination uses two schedules: Schedule I sets per-unit rates for listed major currencies with distinct import and export entries, and Schedule II sets the conversion basis for the Japanese Yen.
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Provisions expressly mentioned in the judgment/order text.
Exchange rate determination for customs: prescribed foreign currency conversion rates apply to import and export valuation effective from 1st April.
The Central Board, exercising powers under section 14 of the Customs Act, 1962, prescribes rates of exchange for conversion of specified foreign currencies into Indian rupees effective from 1 April 2011 for import and export valuation, superseding the earlier notification. The determination uses two schedules: Schedule I sets per-unit rates for listed major currencies with distinct import and export entries, and Schedule II sets the conversion basis for the Japanese Yen.
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