CBEC Issues Rate Of Exchange Of Foreign Currency to Indian Rupees

Information Type: Legislative Information
Subject: Financial Law
News Title: CBEC Issues Rate Of Exchange Of Foreign Currency to Indian Rupees
News Date: 2014-05-2
News Laws: Foreign Exchange
News State: Central
Case Note / Description :

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.32/2014-CUSTOMS (N.T.), dated the 17th April, 2014 vide number S.O.1105 (E), dated the 17th  April, 2014, except as respects things done or omitted to be done before such supersession, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II annexed hereto into Indian currency or vice versa shall, with effect from 2nd May, 2014 be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.

 
 
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