Exchange Rate of Foreign Currency Relating to imported and Export Goods Notified
Exchange Rate of Foreign Currency Relating to imported and
Export Goods Notified
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 Central Board of
Excise& Customs (CBEC) No.112/2015-CUSTOMS (N.T.), dated 19th
November, 2015, except as respects things done or omitted to be done before
such supersession, the Central Board of Excise & Customs (CBEC) 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 4th December, 2015, 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
Export Goods)
|
|
|
1.
|
Australian
Dollar
|
49.45
|
48.00
|
|
|
2.
|
Bahrain Dinar
|
183.05
|
171.75
|
|
|
3.
|
Canadian
Dollar
|
50. 55
|
49.45
|
|
|
4.
|
Danish Kroner
|
9.60
|
9.35
|
|
|
5.
|
EURO
|
71.65
|
69.85
|
|
|
6.
|
Hong Kong
Dollar
|
8.70
|
8.55
|
|
|
7.
|
Kuwait Dinar
|
226.00
|
212.70
|
|
|
8.
|
New Zealand
Dollar
|
45.05
|
43.70
|
|
|
9.
|
Norwegian
Kroner
|
7.80
|
7.60
|
|
|
10.
|
Pound Sterling
|
100.70
|
98.50
|
|
|
11.
|
Singapore
Dollar
|
47.80
|
46.80
|
|
|
12.
|
South African
Rand
|
4.75
|
4.50
|
|
|
13.
|
Saudi Arabian
Riyal
|
18.30
|
17.30
|
|
|
14.
|
Swedish Kroner
|
7.75
|
7.60
|
|
|
15.
|
Swiss Franc
|
66.25
|
64.60
|
|
|
16.
|
UAE Dirham
|
18.70
|
17.70
|
|
|
17.
|
US Dollar
|
67.25
|
66.25
|
|
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
Export Goods)
|
|
|
1.
|
Japanese Yen
|
54.75
|
53.50
|
|
|
2.
|
Kenya Shilling
|
67.20
|
63.45
|
|
Cooperation amongst countries and sharing of information is
the key to unearth illicit money stashed in safe havens: Jayant Sinha,
MOS(Finance)
Shri
Jayant Sinha, Minister of State for Finance inaugurated the 6th Meeting of the
AEOI Group of the Global Forum on Transparency and Exchange of Information for
Tax Purposes here today.
In his Keynote Address, Shri Sinha emphasised that cooperation amongst countries and sharing of information is the key to unearth illicit money stashed in safe havens. He lauded the work done by the Global Forum and the AEOI Group in fostering a climate of increased cooperation amongst tax jurisdictions, which he said has resulted in dramatic improvements in transparency.
Earlier, Shri A.K. Jain, Chairman, Central Board of Direct Taxes (CBDT), delivered the Welcome Address and termed the process of exchange of information as a “game changer for tax administrations”.
Ms. Monica Bhatia, Head of the Secretariat of the Global Forum and Mr. David Pitaro, Chair of the AEOI Group, heaped lavish praise on India’s role in strengthening the mechanism of the exchange of information. They acknowledged India’s contribution to the Global Forum and thanked India for hosting this meeting.
An important development on the sidelines of the meeting today was the signing of the Multilateral Competent Authority Agreement (MCAA) by Andorra, thus becoming the 75th country to have signed it. India had signed the MCAA on 3rd June, 2015.
The AEOI Group, which has 64 member countries presently, is mandated to develop a methodology to review the implementation of the new global standard on automatic exchange of information, i.e., the Common Reporting Standard (CRS). This review is carried-out in a transparent manner with all Global Forum members participating in the process on an equal footing. During the 2-day meeting, one of the key areas of work would be the specific reviews of the confidentiality and data safeguards procedures of certain tax jurisdictions.
In his Keynote Address, Shri Sinha emphasised that cooperation amongst countries and sharing of information is the key to unearth illicit money stashed in safe havens. He lauded the work done by the Global Forum and the AEOI Group in fostering a climate of increased cooperation amongst tax jurisdictions, which he said has resulted in dramatic improvements in transparency.
Earlier, Shri A.K. Jain, Chairman, Central Board of Direct Taxes (CBDT), delivered the Welcome Address and termed the process of exchange of information as a “game changer for tax administrations”.
Ms. Monica Bhatia, Head of the Secretariat of the Global Forum and Mr. David Pitaro, Chair of the AEOI Group, heaped lavish praise on India’s role in strengthening the mechanism of the exchange of information. They acknowledged India’s contribution to the Global Forum and thanked India for hosting this meeting.
An important development on the sidelines of the meeting today was the signing of the Multilateral Competent Authority Agreement (MCAA) by Andorra, thus becoming the 75th country to have signed it. India had signed the MCAA on 3rd June, 2015.
The AEOI Group, which has 64 member countries presently, is mandated to develop a methodology to review the implementation of the new global standard on automatic exchange of information, i.e., the Common Reporting Standard (CRS). This review is carried-out in a transparent manner with all Global Forum members participating in the process on an equal footing. During the 2-day meeting, one of the key areas of work would be the specific reviews of the confidentiality and data safeguards procedures of certain tax jurisdictions.
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