Exchange rate determination for imports fixes binding conversion rates for specified foreign currencies under customs authority. The Board, exercising powers under the Customs Act, fixes conversion rates for specified foreign currencies into Indian rupees with effect from 1st April 2005 by superseding the earlier notification; Schedule I lists per-unit rates for major currencies and Schedule II lists the rate for Japanese yen per 100 units, establishing binding tariff-conversion values for customs import purposes.
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Provisions expressly mentioned in the judgment/order text.
Exchange rate determination for imports fixes binding conversion rates for specified foreign currencies under customs authority.
The Board, exercising powers under the Customs Act, fixes conversion rates for specified foreign currencies into Indian rupees with effect from 1st April 2005 by superseding the earlier notification; Schedule I lists per-unit rates for major currencies and Schedule II lists the rate for Japanese yen per 100 units, establishing binding tariff-conversion values for customs import purposes.
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