Exchange rate determination sets new conversion rates for specified foreign currencies for import valuation effective immediately. The Board, exercising statutory Customs authority, prescribes that the exchange rate for each foreign currency listed in the appended schedules shall be the rate shown against that currency for conversions into Indian rupees and vice versa for import valuation and related customs purposes, effective 1 June 2006. Schedule I supplies rates per one unit of foreign currency and Schedule II supplies a rate per one hundred units, and the notification supersedes the prior April 2006 exchange-rate notification.
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Provisions expressly mentioned in the judgment/order text.
Exchange rate determination sets new conversion rates for specified foreign currencies for import valuation effective immediately.
The Board, exercising statutory Customs authority, prescribes that the exchange rate for each foreign currency listed in the appended schedules shall be the rate shown against that currency for conversions into Indian rupees and vice versa for import valuation and related customs purposes, effective 1 June 2006. Schedule I supplies rates per one unit of foreign currency and Schedule II supplies a rate per one hundred units, and the notification supersedes the prior April 2006 exchange-rate notification.
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