Date: 2014-11-05Category: 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 6th November, 2014 be the rate mentioned against it in the corresponding entry in column (3) thereof.
Executive Summary:
This notification from the Central Board of Excise and Customs establishes the rates of exchange for converting certain foreign currencies into Indian rupees and vice versa for imported and export goods. It supersedes Notification No. 98/2014-Customs N.T., dated October 16, 2014, and the new rates are effective from November 6, 2014. The notification is issued under Section 14 of the Customs Act, 1962.
Key Points / Main Content:
* **Exchange Rate Determination:**
* The notification determines the rate of exchange for specified foreign currencies into Indian currency or vice versa.
* These rates are applicable for the purpose of Section 14 of the Customs Act, 1962, which relates to imported and export goods.
* **Supersession of Previous Notification:**
* This notification supersedes the Government of India's Notification No. 98/2014-Customs N.T., dated October 16, 2014.
* The supersession does not affect actions taken or omitted before the effective date of this notification.
* **Effective Date:**
* The determined exchange rates are effective from November 6, 2014.
* **Schedules of Exchange Rates:**
* Schedule I specifies the exchange rates for one unit of various foreign currencies.
* Schedule II specifies the exchange rates for 100 units of Japanese Yen and Kenya Shilling.
* For each currency, separate rates are provided for imported goods and export goods.
* The foreign currencies listed are: 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, US Dollar, Japanese Yen, and Kenya Shilling.
Impact Analysis:
* **Importers and Exporters:**
* Impact: The exchange rates directly affect the cost of imported goods and the revenue from exported goods, influencing profitability and competitiveness.
* Action Required: Update accounting and pricing based on the new exchange rates to ensure accurate financial reporting and costing of goods.
* **Customs Officials:**
* Impact: The notification provides the official exchange rates to be used for assessing customs duties and taxes on imported and exported goods.
* Action Required: Implement the new exchange rates for all transactions with effect from November 6, 2014, and ensure compliance with Section 14 of the Customs Act, 1962.
Key Entities Referenced
Customs Act, 1962: An act of the Parliament of India to consolidate and amend the law relating to customs.
Central Board of Excise and Customs: A government agency responsible for the administration of indirect taxes in India.
New Delhi: The capital of India, where the notification was issued.
Ministry of Finance: A ministry in the Government of India responsible for financial matters.
Department of Revenue: A department under the Ministry of Finance, Government of India.
Australian Dollar: A foreign currency listed in Schedule I.
EURO: A foreign currency listed in Schedule I.
Japanese Yen: A foreign currency listed in Schedule II.
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No. 2258] NEW DELHI, WEDNESDAY, NOVEMBER 5, 2014/KARTIKA 14, 1936
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(राज(cid:13)व (cid:1)वभाग)
(क(cid:17)(cid:18)(cid:19)य उ(cid:3)पाद शु(cid:25)क एंव सीमा शु(cid:25)क बोड)
अ"धसचू ना
स.ं 101/2014-सीमा शु(cid:25)क (ग.ै टै.)
नई +द(cid:25)ल(cid:19), 5 नव-बर, 2014
सा.का.िन . 2830(अ).—
सीमा श(cid:25)ु क अ"ध.नयम, 1962 (1962 का 52) क/धारा 14 0वारा 1द(cid:3)त शि3तय4 का
1योग करत े हुए और भारत सरकार के (cid:1)व(cid:3)त म(cid:7)ं ालय (राज(cid:13)व (cid:1)वभाग) क/ का.आ. 2658(अ), +दनांक 16 अ3तबू र, 2014
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1(cid:3)येक (cid:1)वदेशी म(cid:18)ु ा के भारतीय म(cid:18)ु ा म(cid:17) संप9रवतन और भारतीय म(cid:18)ु ा के (cid:1)वदेशी म(cid:18)ु ा म(cid:17) संप9रवतन क/ (cid:1)व.नमय दर 6
4381 GI/2014 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
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कॉलम (3) म(cid:17) द(cid:19) गई त(cid:3)संबधं ी 1(cid:1)विCट म(cid:17) उि(cid:25)लGखत है ! –
अनसु चू ी-I
:ं.स.ं (cid:1)वदेशी म(cid:18)ु ा भारतीय I. के समतु(cid:25)य (cid:1)वदेशी म(cid:18)ु ा क/ एक इकाई क/ (cid:1)व.नमय दर
(1) (2) (3)
(क) (ख)
(आया.तत माल के Fलए) (.नयात माल के Fलए)
1.
आ(cid:13)JेFलयन डालर
54.50 53.00
2. 167.55 158.40
बाहरेनी द(cid:19)नार
3.
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54.55 53.30
4.
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10.50 10.20
5.
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78.00 76.15
6.
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8.00 7.85
7. 218.05 205.65
कुवैतीद(cid:19)नार
8. 48.75 47.50
Lयजू ीलडM डालर
9.
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9.10 8.85
10.
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99.50 97.30
11. 48.20 47.15
Fसगं ापरु डालर
12. 5.70 5.40
साउथ अQ/कन रMड
13. 16.85 15.90
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14. 8.45 8.20
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15. 64.85 63.30
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16. 17.20 16.25
य.ू ए. इ.+दरहम
17. 61.90 60.90
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(1) (2) (3)
(क) (ख)
(आया.तत माल के Fलए) (.नयात माल के Fलए)
1.
जापानी येन
54.65 53.40
2. 70.50 66.55
केLयन Fशि(cid:25)लगं
[फा. स.ं 468 /01/2014 – सीमा शु(cid:25)क-V]
स(cid:3)यजीत मोहLती, .नदेशक
(vkbZ lh Mh)
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
(CENTRAL BOARD OF EXCISE AND CUSTOMS)
NOTIFICATION
NO. 101/2014-CUSTOMS (N.T.)
New Delhi, the 5th November, 2014
S.O. 2830(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.98/2014-CUSTOMS (N.T.), dated the 16thOctober, 2014vide number S.O. 2658(E), dated the 16thOctober, 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 6th November, 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 54.50 53.00
2. Bahrain Dinar 167.55 158.40
3. Canadian Dollar 54.55 53.30
4. Danish Kroner 10.50 10.20
5. EURO 78.00 76.154 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
6. Hong Kong Dollar 8.00 7.85
7. Kuwait Dinar 218.05 205.65
8. New Zealand Dollar 48.75 47.50
9. Norwegian Kroner 9.10 8.85
10. Pound Sterling 99.50 97.30
11. Singapore Dollar 48.20 47.15
12. South African Rand 5.70 5.40
13. Saudi Arabian Riyal 16.85 15.90
14. Swedish Kroner 8.45 8.20
15. Swiss Franc 64.85 63.30
16. UAE Dirham 17.20 16.25
17. US Dollar 61.90 60.90
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 54.65 53.40
2. Kenya Shilling 70.50 66.55
[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