Date: 2014-07-17Category: 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 18th July, 2014.
Executive Summary:
This is a notification from the Central Board of Excise and Customs regarding the rate of exchange for converting foreign currencies into Indian Rupees and vice versa. It is effective from July 18, 2014, and applies to imported and export goods. This notification supersedes a previous notification dated July 3, 2014, with some exceptions.
Key Points / Main Content:
Exchange Rate Determination:
* The Central Board of Excise and Customs determines the exchange rates for foreign currencies to Indian Rupees.
* These rates are for the purpose of Section 14 of the Customs Act, 1962, related to imported and export goods.
Supersession of Previous Notification:
* This notification supersedes Notification No. 49/2014-Customs (N.T.), dated July 3, 2014, vide number S.O. 1684(E), dated the 3rd July, 2014.
* The supersession does not affect actions already taken or omitted before the new notification.
Effective Date:
* The determined exchange rates are effective from July 18, 2014.
Schedules of Exchange Rates:
* Schedule I lists exchange rates for various foreign currencies (e.g., Australian Dollar, Bahrain Dinar, EURO) in terms of Indian Rupees for both imported and export goods.
* Schedule II lists exchange rates for Japanese Yen and Kenya Shilling in terms of Indian Rupees (per 100 units) for both imported and export goods.
Impact Analysis:
Importers and Exporters:
Impact: Importers and exporters will be directly affected by the revised exchange rates, which will influence the cost of imports and the revenue from exports.
Action Required: Importers and exporters need to use the new exchange rates for customs declarations and financial transactions starting July 18, 2014.
Customs Officials:
Impact: Customs officials are required to use the new exchange rates for assessing duties and taxes on imported and exported goods.
Action Required: Customs officials must implement the new exchange rates from July 18, 2014, and ensure compliance with the notification.
Central Board of Excise and Customs:
Impact: The Board is responsible for setting and updating the exchange rates to facilitate trade and ensure accurate customs assessments.
Action Required: The Board is to monitor the impact of the new exchange rates and make adjustments as necessary.
Key Entities Referenced
Customs Act, 1962: A legal act that empowers the Central Board of Excise and Customs to determine the rate of exchange for foreign currencies.
Central Board of Excise and Customs: The governmental body responsible for determining the exchange rates for import and export goods, under the Ministry of Finance, Department of Revenue.
Ministry of Finance, Department of Revenue: The Indian government ministry and department responsible for the notification concerning exchange rates.
New Delhi: The location where the notification was issued.
Indian currency: The official currency of India, to which foreign currencies are being converted.
Australian Dollar: A foreign currency listed in Schedule I, for which exchange rates are provided.
Bahrain Dinar: A foreign currency listed in Schedule I, for which exchange rates are provided.
Satyajit Mohanty: Director, ICD; signed the document
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ििििवववव(cid:3)(cid:3)(cid:3)(cid:3) मममम(cid:7)(cid:7)ंं(cid:7)(cid:7)ंं ााााललललयययय
((((ररररााााजजजज(cid:4)(cid:4)(cid:4)(cid:4)वववव ििििववववभभभभाााागगगग))))
((((कककक(cid:11)(cid:11)(cid:11)(cid:11)(cid:12)(cid:12)(cid:12)(cid:12)ीीीीयययय उउउउ(cid:16)(cid:16)(cid:16)(cid:16)पपपपाााादददद शशशश(cid:21)(cid:21)ुु(cid:21)(cid:21)ुु कककक एएएएंवंवंवंव ससससीीीीममममाााा शशशश(cid:21)(cid:21)ुु(cid:21)(cid:21)ुु कककक बबबबोोोोडडडड))(cid:29)(cid:29)))(cid:29)(cid:29)
अअअअििििधधधधससससचचूूचचूू ननननाााा
नई (cid:4)द(cid:6)ली, 17 जुलाई, 2014
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ककककाााा....आआआआ.... 1111888855557777((((अअअअ)))).—सीमा-शु(cid:6)क अिधिनयम, 1962 (1962 का 52 ) क(cid:17) धारा 14 (cid:20)ारा (cid:21)द(cid:22) शि(cid:23)य(cid:24) का
(cid:21)योग करते (cid:29)ए और भारत सरकार के िव(cid:22) म$ं ालय (राज&व िवभाग) क(cid:17) का.आ.1684 (अ), (cid:4)दनांक 3 जुलाई, 2014
के ज’रए जारी अिधसूचना स.ं 49/2014-सीमा-शु(cid:6)क (गै. टै.), (cid:4)दनांक 3 जुलाई, 2014 को अिध*ांत करत े (cid:29)ए, ऐस े
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2923 GI/2014 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
अअअअननननससुुससुु चचूूचचूू ीीीी----I
*ं.सं. िवदशे ी मु2ा भारतीय B. के समतु(cid:6)य िवदशे ी मु2ा क(cid:17) एक इकाई क(cid:17) िविनमय दर
(1) (2) (3)
(क) (ख)
(आयाितत माल के िलए) (िनया-त माल के िलए)
1. आ&Cेिलयन डालर 57.05 55.70
2. बाहरेनी दीनार 164.30 155.25
3. कनेिडयन डालर 56.75 55.40
4. डेिनश *ोनर 11.10 10.75
5. यूरो 82.40 80.45
6. हांग कांग डालर 7.85 7.70
7. कुवतै ी दीनार 219.80 207.20
8. DयूजीलडE डालर 52.95 51.65
9. नॉवFिजयन *ोनर 9.85 9.55
10. पाउGड &टIलग 104.40 102.10
11. Jसगापुर डालर 49.05 47.95
12. साउथ अK(cid:17)कन रEड 5.80 5.50
13. साऊदी अरेिबयन ’रयाल 16.50 15.60
14. &वीिडश *ोनर 8.95 8.70
15. ि&वस KEक 68.00 66.15
16. य.ू ए. इ. (cid:4)दरहम 16.85 15.95
17. यू . एस. डालर 60.70 59.70¹Hkkx IIµ[k.M 3(ii)º Hkkjr dk jkti=k % vlk/kj.k 3
अअअअननननससुुससुु चचूूचचूू ीीीी---- II
*ं.स.ं िवदशे ी मु2ा भारतीय B. के समतु(cid:6)य िवदशे ी मु2ा क(cid:17) 100 इकाई क(cid:17) िविनमय दर
(1) (2) (3)
(क) (ख)
(आयाितत माल के िलए) (िनया-त माल के िलए)
1. जापानी येन 60.05 58.55
2. केDयन िशJ(cid:6)लग 70.70 66.60
[फा. सं. 468 /01/2014 - सीमा शु(cid:6)क-V]
स4यजीत मोहDती, िनदशे क, (vkbZlhMh)
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF EXCISE AND CUSTOMS)
NOTIFICATION
New Delhi, the 17th July, 2014
No. 53 /2014-CUSTOMS (N.T.)
S. O. 1857(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.49/2014-CUSTOMS (N.T.), dated the 3rd July, 2014 vide number S.O.1684 (E), dated the 3rd July, 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 18th July, 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
Sl. 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 57.05 55.70
2. Bahrain Dinar 164.30 155.254 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
3. Canadian Dollar 56.75 55.40
4. Danish Kroner 11.10 10.75
5. EURO 82.40 80.45
6. Hong Kong Dollar 7.85 7.70
7. Kuwait Dinar 219.80 207.20
8. New Zealand Dollar 52.95 51.65
9. Norwegian Kroner 9.85 9.55
10. Pound Sterling 104.40 102.10
11. Singapore Dollar 49.05 47.95
12. South African Rand 5.80 5.50
13. Saudi Arabian Riyal 16.50 15.60
14. Swedish Kroner 8.95 8.70
15. Swiss Franc 68.00 66.15
16. UAE Dirham 16.85 15.95
17. US Dollar 60.70 59.70
SCHEDULE-II
Sl. 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 60.05 58.55
2. Kenya Shilling 70.70 66.60
[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.