CA-CS-ICWA-TAX PROFESSIONALS PORTAL - Notification 01/2014-Customs- Rate of exchange of conversion of each of the foreign currency with effect from January 3, 2014
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Rate of exchange-conversion-foreign currency wef 03-01-14
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Dollar change to 62.35 from 62.90.........
Have you noticed that Export rates are 2% lower then Import Rates.........
Which mean if i Import $100 goods and pay CVD 12% at 1% loaded value at 62.35 = 756.
If one Export back at $100 rebate of ED at 61.35 = 736
So 20/- is sure gain for Government Exchequer for each $200 Trade ...... there should be no spread for Export / Import , it should be single Exchange rate at Customs
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