CBIC notifies exchange rates for conversion!

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CBIC notifies exchange rates for conversion!

Central Board of Indirect Taxes and Custom notifies the exchange rates for conversion. Have a look at the notification:

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE)

(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)

Notification No.90/2018 Customs (N.T.)

 

New Delhi, dated the 1st  November, 2018

10 Kartika 1940 (SAKA)

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Indirect Taxes and Customs No.87/2018-CUSTOMS (N.T.), dated 18th October, 2018 except as respects things done or omitted to be done before such supersession, the Central Board of Indirect Taxes and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies 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 November, 2018, 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 Exported

Goods)

1. Australian Dollar 53.80 51.45
2. Bahraini Dinar 202.20 189.80
3. Canadian Dollar 57.25 55.20
4. Chinese Yuan 10.75 10.45
5. Danish Kroner 11.45 11.05
6. EURO 85.35 82.30
7. Hong Kong Dollar 9.60 9.25
8. Kuwaiti Dinar 251.05 235.30
9. New Zealand Dollar 49.85 47.45
10. Norwegian Kroner 8.95 8.60
11. Pound Sterling 96.55 93.25
12. Qatari Riyal 20.95 19.65
13. Saudi Arabian Riyal 20.30 19.10
14. Singapore Dollar 54.35 52.50
15. South African Rand 5. 20 4.85
16. Swedish Kroner 8.20 7.95
17. Swiss Franc 74.70 71.90
18. UAE Dirham 20.75 19.50
19. US Dollar 74.70 73.00

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 Exported

Goods)

1. Japanese Yen 66.65 64.25

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