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of <h1>Central Government Updates Currency Exchange Rates for Customs and Stamp Duty Under Indian Stamp Act, 1899 and Customs Act, 1962.</h1> The Central Government, under the Indian Stamp Act, 1899, and the Customs Act, 1962, has issued a notification superseding Notification No. 28/91-Cus. (N.T.). Effective from July 1, 1991, this notification prescribes the exchange rates for converting specified foreign currencies into Indian currency or vice versa for calculating stamp duty and determining customs duties. The schedule lists various foreign currencies, such as the U.S. Dollar, Pound Sterling, and Japanese Yen, with their respective exchange rates equivalent to Rs. 100. This update aims to standardize the conversion rates for customs and stamp duty purposes.
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