CBIC : Exchange Rate Notification No. 90/2023-Cus (NT)

Last updated: 11 December 2023

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The Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 90/2023-Customs (N.T.) on 7th December 2023. This notification establishes new rates of exchange for converting foreign currencies into Indian currency, and vice versa, for customs purposes. These new rates will be effective from 8th December 2023 and supersede the previous notification dated 16th November 2023.

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
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Notification No. 90/2023 - Customs (N.T.)

New Delhi, dated the 7th December, 2023
16 Agrahayana 1945 (SAKA)

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification No. 84/2023-Customs(N.T.), dated 16th November, 2023 except as respects things done or omitted to be done before such supersession, the Central Board of Indirect Taxes and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, with effect from 8th December, 2023, be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.

For full notification please refer to the attachment.

FAQ :

The notification determines the official rates of exchange for converting foreign currencies into Indian currency, or vice versa, for the purpose of assessing imported and export goods under the Customs Act.

The new exchange rates specified in Notification No. 90/2023-Cus are effective from 8th December 2023.

This notification supersedes Notification No. 84/2023-Customs(N.T.), dated 16th November 2023, except for actions taken before the supersession.

The notification is issued in exercise of the powers conferred by section 14 of the Customs Act, 1962.

The full details of the exchange rates are provided in the schedules annexed to the notification. For the complete notification, please refer to the attachment.