Exchange rate determination for customs valuation establishes prescribed currency conversion rates for imports and exports. The Central Board of Excise and Customs, exercising powers under the Customs Act, prescribes specific rupee conversion rates for specified foreign currencies for valuation of imported and export goods, effective 1 June 2008, as set out in Schedules I (per unit rates for eleven currencies) and II (rate for 100 Japanese Yen); the notification supersedes a prior Ministry of Finance notification and was subsequently rescinded by a later notification dated 25 June 2008.
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 customs valuation establishes prescribed currency conversion rates for imports and exports.
The Central Board of Excise and Customs, exercising powers under the Customs Act, prescribes specific rupee conversion rates for specified foreign currencies for valuation of imported and export goods, effective 1 June 2008, as set out in Schedules I (per unit rates for eleven currencies) and II (rate for 100 Japanese Yen); the notification supersedes a prior Ministry of Finance notification and was subsequently rescinded by a later notification dated 25 June 2008.
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 
