Central Government Updates Exchange Rates for Export Goods Under Customs Act, 1962, Effective July 1, 1996

The Central Government has amended Notification No. 28/96-Cus. (N.T.) regarding exchange rates for export goods under the Customs Act, 1962. Effective from July 1, 1996, the exchange rates for converting specified foreign currencies into Indian rupees are established. Schedule I lists individual foreign currencies like the U.S. Dollar, Pound Sterling, and others, with their respective exchange rates per unit. Schedule II provides rates for 100 units of currencies such as Belgian Francs, Italian Lira, and Japanese Yen. This amendment supersedes the previous notification dated May 28, 1996, and sets new rates for customs purposes.

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