Exchange rate determination for export conversion fixes specified foreign currency conversion rates under customs law for export procedures. The Board prescribes, under section 14(3)(a)(i) of the Customs Act, 1962, fixed rates of exchange for conversion of specified foreign currencies into Indian rupees (and vice versa) for export goods, effective from 1st September, 2006, superseding the prior notification. Implementation is by two schedules: Schedule I (rates per one unit for various major currencies) and Schedule II (rate per one hundred units for a specified currency), which are to be used for export-related customs conversion and documentation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exchange rate determination for export conversion fixes specified foreign currency conversion rates under customs law for export procedures.
The Board prescribes, under section 14(3)(a)(i) of the Customs Act, 1962, fixed rates of exchange for conversion of specified foreign currencies into Indian rupees (and vice versa) for export goods, effective from 1st September, 2006, superseding the prior notification. Implementation is by two schedules: Schedule I (rates per one unit for various major currencies) and Schedule II (rate per one hundred units for a specified currency), which are to be used for export-related customs conversion and documentation.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
