The Central Board of Indirect Taxes and Customs (CBIC) has issued amendments to the Exchange Rate Notification No. 106/2020. These changes, effective from 13th November 2020, specifically alter the exchange rates for the Turkish Lira. The updated rates for imported goods are now 9.80 Indian Rupees per unit of Turkish Lira, and for exported goods, they are 9.25 Indian Rupees.
Exchange Rate Notification No. 106/2020 - Customs (N.T.)
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes and Customs hereby makes the following amendment in the Notification of the Central Board of Indirect Taxes and
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FAQ :
The notification, issued under the Customs Act, 1962, specifies the rates of exchange for foreign currencies to be used for calculating customs duties.
Exchange Rate Notification No. 106/2020 - Customs (N.T.) has been amended.
The amendments are effective from 13th November 2020.
The exchange rate for the Turkish Lira has been amended.
For imported goods, the new rate is 9.80 Indian Rupees per unit of Turkish Lira. For exported goods, the rate is 9.25 Indian Rupees per unit of Turkish Lira.