Quick Summary
Exchange Rate Notification No.51/2021 - Customs (N.T.) In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification No.48/2021-Customs(N.T.), dated 20th May, 2021 except as respects things done or omitted to be done before such s
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FAQ :
The new foreign currency exchange rates take effect from 4th June 2021.
The Central Board of Indirect Taxes and Customs (CBIC) determines these exchange rates.
These exchange rates are used for the conversion of foreign currencies into Indian currency or vice versa, for the purpose of assessing imported and exported goods under the Customs Act.
Notification No.48/2021-Customs(N.T.), dated 20th May, 2021, has been superseded.
Yes, there are separate rates specified for imported goods and exported goods in the schedules.
The new rates cover various currencies including Australian Dollar, Bahraini Dinar, Canadian Dollar, Chinese Yuan, Danish Kroner, EURO, Hong Kong Dollar, Kuwaiti Dinar, New Zealand Dollar, Norwegian Kroner, Pound Sterling, Qatari Riyal, Saudi Arabian Riyal, Singapore Dollar, South African Rand, Swedish Kroner, Swiss Franc, Turkish Lira, UAE Dirham, US Dollar, Japanese Yen, and Korean Won.
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