In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification No.18/2021-Customs(N.T.), dated 18th February, 2021 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 here to, into Indian currency or vice versa, shall, with effect from 5th March, 2021, 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-1 of Customs
Sl. No.
Foreign Currency
Rate of exchange of one unit of foreign currency equivalent to Indian rupees
(For Imported Goods)
(For Exported Goods)
1
Australian Dollar
58.15
55.75
2
Bahraini Dinar
200.00
187.65
3
Canadian Dollar
58.75
56.65
4
Chinese Yuan
11.45
11.10
5
Danish Kroner
12.05
11.60
6
EURO
89.65
89.65
7
Hong Kong Dollar
9.60
9.25
8
Kuwaiti Dinar
249.25
233.70
9
New Zealand Dollar
54.35
51.95
10
Norwegian Kroner
8.75
8.40
11
Pound Sterling
103.60
100.10
12
Qatari Riyal
20.70
19.45
13
Saudi Arabian Riyal
20.10
18.85
14
Singapore Dollar
55.75
53.85
15
South African Rand
5.00
4.70
16
Swedish Kroner
8.80
8.50
17
Swiss Franc
81.05
77.90
18
Turkish Lira
10.10
9.50
19
UAE Dirham
20.55
19.25
20
US Dollar
73.90
72.20
Schedule II -Customs
Sl. No.
Foreign Currency
Rate of exchange of 100 units of foreign currency equivalent to Indian rupees
The Central Board of Direct Taxes (CBDT) has released the fifth annual APA report on September 1, 2023. The report highlights the achievements of the APA programme in the financial year 2022-23. One of CBDT’s key efforts for advancing an investor-friendly and non-adversarial tax system in India is the Advance Pricing Agreement (APA) program. Since…
In pursuance of the Government of India’s efforts to provide relief to law abiding companies and Limited Liability Partnerships (LLPs) in the wake of COVID 19, the Ministry of Corporate Affairs (MCA), has introduced the “Companies Fresh Start Scheme, 2020” and revised the “LLP Settlement Scheme, 2020” which is already in vogue to provide a…
The Government, vide Notification No. 19/2021- Central Tax, dated 01.06.2021, had provided relief to the taxpayers by reducing / waiving late fee for non-furnishing FORM GSTR-3B for the tax periods from July, 2017 to April, 2021, if the returns for these tax periods are furnished between 01.06.2021 to 31.08.2021. The last date to avail benefit of the late…
Income Tax Rules Change: From April 1, 2021, many rules related to income tax will be changed. Finance Minister Nirmala Sitharaman (Union Finance Minister Nirmala Sitharaman) announced these changes in Budget 2021. The new changes include exempting 75-year-olds from filing income tax, in addition to raising TDS and making big announcements on tax on EPF….
Common people have high hopes from this budget for 2022. Actually, due to the creaking economy and rising inflation due to Corona havoc, people are in the hope that the government can give them relief in this budget. In this sequence, apart from giving a growth booster to the economy, there is a possibility of…
The Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman has said that Entrepreneurship has always been the strength of India and our young men and women have been contributing to India’s growth with their entrepreneurial skills. She was presenting the Union Budget 2020-21, in Parliament, here today. We recognise the knowledge, skills and…
