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of <h1>India Updates Exchange Rates for Customs Duties Effective January 1, 2005, Under Customs Act, 1962</h1> Notification No. 148/2004-Customs (N.T.), dated December 28, 2004, issued by the Government of India, specifies the exchange rates for various foreign currencies effective from January 1, 2005, for the purpose of calculating customs duties on imported goods under the Customs Act, 1962. This notification supersedes the previous notification No. 129/2004-NT-Customs. The exchange rates are listed in two schedules, with Schedule I covering currencies such as the Australian Dollar at 34.00 INR, US Dollar at 44.00 INR, and EURO at 59.65 INR, and Schedule II listing the Japanese Yen at 42.55 INR.
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