Exchange rate determination establishes statutory conversion rates for specified foreign currencies applicable to imported goods under customs law. The Board, exercising statutory power under the Customs Act, fixes the rate of exchange for specified foreign currencies to be used for conversion into Indian currency or vice versa for customs purposes, and appends schedules listing the applicable conversion rates which supersede the prior notification and take effect from the stated date.
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 establishes statutory conversion rates for specified foreign currencies applicable to imported goods under customs law.
The Board, exercising statutory power under the Customs Act, fixes the rate of exchange for specified foreign currencies to be used for conversion into Indian currency or vice versa for customs purposes, and appends schedules listing the applicable conversion rates which supersede the prior notification and take effect from the stated date.
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