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Tariff Notification No.03/2021 - 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.113/2020-Customs(N.T.), dated 17th December, 2020 except as respects things done or omitted to be done before such su
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FAQ :
The new exchange rates are used for the conversion of foreign currencies into Indian currency, or vice versa, for the purpose of calculating customs duty on imported and exported goods.
These updated rates are effective from January 8, 2021.
The Central Board of Indirect Taxes and Customs (CBIC) has released these updated exchange rates.
This notification supersedes the previous Notification No.113/2020-Customs(N.T.), dated 17th December, 2020, except for things done or omitted before the supersession.
Yes, the notification provides separate rates of exchange for imported goods and exported goods for each foreign currency listed.
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