Exchange rate determination: official import and export currency conversion rates specified for customs valuation and compliance. The Central Board of Excise and Customs, under section 14 of the Customs Act, 1962, prescribes distinct official exchange rate conversions for specified foreign currencies for assessing imported and exported goods, effective from 1st August, 2008; rates are set out in Schedule I (per unit) and Schedule II (per 100 units for Japanese Yen). The notification supersedes Notification No.79/2008 and was later superseded by Notification No.102/2008.
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: official import and export currency conversion rates specified for customs valuation and compliance.
The Central Board of Excise and Customs, under section 14 of the Customs Act, 1962, prescribes distinct official exchange rate conversions for specified foreign currencies for assessing imported and exported goods, effective from 1st August, 2008; rates are set out in Schedule I (per unit) and Schedule II (per 100 units for Japanese Yen). The notification supersedes Notification No.79/2008 and was later superseded by Notification No.102/2008.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
