Exchange rates for imported goods - Notification No. 4/98-Cus. (N.T.) superseded - 12/98 - Customs - Non Tariff

Exchange rates for imported goods - Notification No. 4/98-Cus. (N.T.) superseded Notification No. 12/98-Cus. (N.T.) Dated 24-2-1998 [Substitute at page 4.189 of 15th Edition of Customs Law Manual 1997-98] In exercise of the powers conferred by sub-section (2) of section 20 of the Indian Stamp Act, 1899 (2 of 1899) and sub-clause (i) of clause (a) of sub-section (3) of section 14 of the Customs Act, 1962 (52 of 1962) and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 4/98-NT-Customs, [S.O. 85(E)], dated the 27th January, 1998 the Central Government hereby - (a) prescribes for the purpose of calculating stamp duty under the Indian Stamp Act, 1899 (2 of 1899), (b) determines for the purposes of section 14 of the Customs Act, 1962 (52 of 1962) in so far as these relate to imported goods, that the rate of exchange of conversion of each of the foreign currency specified in column (2) of Schedule I and Schedule II appended hereto into Indian currency or vice versa shall, with effect from the 1st day of March, 1998 be the rate mentioned against it in the corresponding entry in column (3) thereof. SCHEDULE - I Sl. No. Foreign currency Rate of exchange of one unit of foreign currency equivalent to Indian rupees (1) (2) (3) 1. Austrian Schilling 3.07 2. Australian Dollar 26.33 3. Canadian Dollar 27.50 4. Danish Kroner 5.65 5. Deutsche Mark 21.52 6. Dutch Guilder 19.10 7. French Franc 6.42 8. Hong Kong Dollar 5.05 9. Malaysian Ringitt 10.40 10. Norwegian Kroner 5.16 11. Pound Sterling 64.00 12. Swedish Kroner 4.86 13. Swiss Franc 26.66 14. U.S. Dollar 39.10 15. Singapore Dollar 23.90 SCHEDULE - II Sl. No. Foreign currency Rate of exchange of 100 units of foreign currency equivalent to Indian rupees (1) (2) (3) 1. Belgian Francs 104.49 2. Italian Lira 2.19 3. Japanese Yen 31.00