Exchange rate determination for exports set new statutory conversion rates effective June first, impacting valuation under customs law. The Board fixes statutory exchange rates for conversion between specified foreign currencies and Indian rupees for export goods valuation, effective 1 June 2006, superseding the prior April 25 notification. Schedule I sets rupee equivalents for one unit of specified currencies; Schedule II sets the rupee equivalent for 100 units of Japanese Yen. The rates in the appended schedules are prescribed as the applicable conversion rates under the Customs Act authority.
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Provisions expressly mentioned in the judgment/order text.
Exchange rate determination for exports set new statutory conversion rates effective June first, impacting valuation under customs law.
The Board fixes statutory exchange rates for conversion between specified foreign currencies and Indian rupees for export goods valuation, effective 1 June 2006, superseding the prior April 25 notification. Schedule I sets rupee equivalents for one unit of specified currencies; Schedule II sets the rupee equivalent for 100 units of Japanese Yen. The rates in the appended schedules are prescribed as the applicable conversion rates under the Customs Act authority.
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