Exchange Rates
This query is : Resolved
Prashant Vakharia
(Querist)
21 April 2009
Why there is 2 to 3 percent gap for imported and export goods rate in notification issued for valuation under section 14? Like australian dollar for imported goods taken at Rs. 36.05 while for export goods it is taken at Rs. 34.9. Following is the link to see the rates.
https://www.cbec.gov.in/customs/cs-act/notifications/notfns-2k9/csnt38-2k9.htm
https://www.cbec.gov.in/customs/cs-act/notifications/notfns-2k9/csnt38-2k9.htm
Sachidanand Singh
(Expert)
22 April 2009
Banks sell currency at higher rates and buy at lower rates. Thus the INR equivalent of value of dollar that an exporter gets is less than the INR cost of dollar for importers.
Sachidanand Singh
(Expert)
22 April 2009
Banks sell currency at higher rates and buy at lower rates. Thus the INR equivalent of value of dollar that an exporter gets is less than the INR cost of dollar for importers.
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