Date: 2014-06-19Category: Extra OrdinaryState: Union GovernmentCountry: India
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 20th June, 2014.
Executive Summary:
This notification from the Central Board of Excise and Customs, effective June 20, 2014, establishes the rate of exchange for converting foreign currencies into Indian rupees and vice versa, for imported and exported goods, as per Section 14 of the Customs Act, 1962. It supersedes Notification No. 45/2014-CUSTOMS N.T., dated June 5, 2014, with the exception of actions already completed.
Key Points / Main Content:
* **Exchange Rate Determination:** The notification determines the exchange rates for specified foreign currencies to Indian rupees.
* **Legal Basis:** This determination is made under Section 14 of the Customs Act, 1962.
* **Supersession of Previous Notification:** This notification supersedes the previous Notification No. 45/2014-CUSTOMS N.T., dated June 5, 2014.
* **Effective Date:** The determined exchange rates are effective from June 20, 2014.
* **Schedules of Exchange Rates:**
* **Schedule I:** Lists the exchange rates for one unit of various foreign currencies, including Australian Dollar, Bahrain Dinar, Canadian Dollar, Danish Kroner, EURO, Hong Kong Dollar, Kuwait Dinar, New Zealand Dollar, Norwegian Kroner, Pound Sterling, Singapore Dollar, South African Rand, Saudi Arabian Riyal, Swedish Kroner, Swiss Franc, UAE Dirham, and US Dollar.
* **Schedule II:** Lists the exchange rates for 100 units of Japanese Yen and Kenyan Shilling.
* **Application:** The exchange rates apply to both imported and exported goods.
Impact Analysis:
* **Importers and Exporters:**
* Impact: Importers and exporters will have to use the new exchange rates specified in Schedules I and II for valuation of goods.
* Action Required: Apply the new exchange rates for all import and export transactions effective June 20, 2014.
* **Customs Officials:**
* Impact: Customs officials are required to use the specified exchange rates for assessing duties on imported and exported goods.
* Action Required: Implement the new exchange rates for duty assessment from June 20, 2014.
Key Entities Referenced
Customs Act, 1962: A law providing the framework for customs duties and regulations in India.
Central Board of Excise and Customs: A government agency responsible for the administration of indirect taxes in India.
Ministry of Finance: A ministry within the Government of India responsible for economic and financial matters.
Department of Revenue: A department under the Ministry of Finance in India responsible for tax collection and administration.
New Delhi: The capital city of India, where the notification was issued.
Australian Dollar: Foreign currency listed in Schedule I for rate of exchange.
EURO: Foreign currency listed in Schedule I for rate of exchange.
Japanese Yen: Foreign currency listed in Schedule II for rate of exchange.
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अअअअििििधधधधससससचचूूचचूू ननननाााा
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ककाा (cid:20)(cid:20)ययोोगग ककररतते े (cid:26)(cid:26)एए औऔरर भभााररतत ससररककाारर ककेे ििवव(cid:31)(cid:31) ममं!ं!ााललयय (राज,व िवभाग) क0 का.आ.11445522 (अ), 2दनांक 5 जून,
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I
अअअअननननससुुससुु चचूूचचूू ीीीी----
(cid:1)ं.स.ं िवदेशी मु(cid:14)ा भारतीय (cid:28). ककेे ससममततु(cid:30)ु(cid:30)यय ििववददेशेशीी ममु(cid:14)ु(cid:14)ाा कक(cid:31)(cid:31) एएकक इइककााईई कक(cid:31)(cid:31) ििववििननममयय ददरर
(1) (2) (3)
(क) (ख)
(आयाितत माल के िलए) (ििननययाा%त%त ममाालल ककेे ििललएए)
1. आ(cid:17)(cid:18)ेिलयन डालर 57.15 55.60
2. बाहरेनी दीनार 163.65 154.60
2526 GI/2014 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
3. कनेिडयन डालर 56.10 55.70
4. डेिनश (cid:1)ोनर 11.10 10.75
5. यूरो 82.55 80.55
6. हांग कांग डालर 7.80 7.65
7. कुवैती दीनार 218.95 206.70
8. (यूजील+ड डालर 52.90 51.60
9. नॉव-िजयन (cid:1)ोनर 10.15 9.80
10. पाउ0ड (cid:17)ट2लग 103.10 100.80
11. 4सगापुर डालर 48.55 47.45
12. साउथ अ6(cid:31)कन र+ड 5.80 5.45
13. साऊदी अरेिबयन 7रयाल 16.45 15.55
14. (cid:17)वीिडश (cid:1)ोनर 9.15 8.90
15. ि(cid:17)वस 6+क 67.75 66.05
16. य.ू ए. इ. 8दरहम 16.80 15.85
17. यू . एस. डालर 60.45 59.45
II
अअअअननननससुुससुु चचूूचचूू ीीीी----
(cid:1)ं.स.ं िवदेशी मु(cid:14)ा भारतीय (cid:28). के समतु(cid:30)य िवदेशी मु(cid:14)ा क(cid:31) 100 इकाई क(cid:31) िविनमय दर
(1) (2) (3)
(क) (ख)
(आयाितत माल के िलए) (िनया%त माल के िलए)
1. जापानी येन 59.55 58.10
2. के(यन िश4(cid:30)लग 70.60 66.45
[फा. सं. 468 /01/2014 - सीमा शु(cid:15)क-V]
सBयजीत मोहRती, िनदशे क
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF EXCISE AND CUSTOMS)
NOTIFICATION
New Delhi, the 19th June, 2014
No. 47/2014-CUSTOMS (N.T.)
S.O. 1565(E).–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.45/2014-CUSTOMS (N.T.), dated the 5th June, 2014 vide number S.O.1452 (E),
dated the 5th June, 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 Indian¹Hkkx IIµ[k.M 3(ii)º Hkkjr dk jkti=k % vlk/kj.k 3
currency or vice versa shall, with effect from 20th June, 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.
SCHEDULE-I
S. No. Foreign Currency Rate of exchange of one unit of foreign currency equivalent
to Indian rupees
(1) (2) (3)
(a) (b)
(For Imported Goods) (For Export Goods)
1. Australian Dollar 57.15 55.60
2. Bahrain Dinar 163.65 154.60
3. Canadian Dollar 56.10 55.70
4. Danish Kroner 11.10 10.75
5. EURO 82.55 80.55
6. Hong Kong Dollar 7.80 7.65
7. Kuwait Dinar 218.95 206.70
8. New Zealand Dollar 52.90 51.60
9. Norwegian Kroner 10.15 9.80
10. Pound Sterling 103.10 100.80
11. Singapore Dollar 48.55 47.45
12. South African Rand 5.80 5.45
13. Saudi Arabian Riyal 16.45 15.55
14. Swedish Kroner 9.15 8.90
15. Swiss Franc 67.75 66.05
16. UAE Dirham 16.80 15.85
17. US Dollar 60.45 59.45
SCHEDULE-II
S.No. Foreign Currency Rate of exchange of 100 units of foreign currency equivalent
to Indian rupees
(1) (2) (3)
(a) (b)
(For Imported Goods) (For Export Goods)
1. Japanese Yen 59.55 58.10
2. Kenya Shilling 70.60 66.45
[F. No. 468/01/2014-Cus.V]
SATYAJIT MOHANTY, Director (ICD)
Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.