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Notification No. 2/2001-NT-Customs dt. the 25th January, 2001
New Exchange Rate (Effective 1/2/2001) of Indian rupee vis-a-vis other currencies for Imported Goods and Stamp Duty levy

S.O. (E) - In exercise of the powers conferred by sub-section (2) of Section 20 of the Indian Stamp Act, 1899 (2 of 1899) and sub-clause (i) of clause (a) of sub-section (3) of Section 14 of Customs Act, 1962 (52 of 1962) and in supersession of the Notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 77/2000-NT-Customs, [S.O.1142(E)] dated the 22nd December, 2000 the Central Government, hereby:-

              (a)   prescribes for the purpose of calculating stamp duty under the Indian Stamp Act, 1899 (2 of 1899),

              (b)   determines for the purposes of section 14 of the Customs Act, 1962 (52 of 1962) in so far as these relate to imported goods.

that the rate of exchange of conversion of each of the foreign currency specified in the column (2) of Schedule I and Schedule II appended hereto into Indian Currency or vice-versa shall, with effect from the 1st February, 2001 be the rate mentioned against it in the corresponding entry in column (3) thereof.

Schedule - I

Sl.          Foreign                                                                               Rate of exchange of one unit of foreign
No.       Currency                                                                               currency equivalent to Indian rupees

(1)               (2)                                                                                                                     (3)

1.         Austrian Schilling................................................................................................. 3.17

2.         Australian Dollar................................................................................................ 25.85

3.         Canadian Dollar................................................................................................ 30.85

4.         Danish Kroner...................................................................................................... 5.85

5.         Deutsche Mark................................................................................................... 22.30

6.         Dutch Guilder..................................................................................................... 19.80

7.         EURO................................................................................................................... 43.65

8.         French Francs...................................................................................................... 6.65

9.         Hong Kong Dollar................................................................................................ 5.95

10.      Norwegian Kroner............................................................................................... 5.30

11.      Pound Sterling................................................................................................... 68.40

12.      Swedish Kroner................................................................................................... 4.90

13.      Swiss Franc........................................................................................................ 28.45

14.      Singapore Dollar............................................................................................... 26.75

15.      U.S. Dollar........................................................................................................... 46.60

Schedule-II

Sl.        Foreign                                                                                Rate of exchange of 100 units of foreign

No.     Currency                                                                                 currency equivalent to Indian rupees

 (1)            (2)                                                                                                                       (3)

1.         Belgian Francs                                                                                                 108.20

2.         Italian Lira                                                                                                               2.22

3.         Japanese Yen                                                                                                     39.90

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