Cus Ntf No. 41/1999 (NT) Date 25th June, 1999

Foreign exchange rate of currency
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 the 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. 32/99-N.T. –Customs, [S.O.384(E)] dated the 26th May, 1999 the Central Government hereby:-

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

(b) Determine for the purpose 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 column (2) of Schedule I and Schedule II appended hereto into Indian currency or vice- versa shall, with effect from the 1st July, 1999 be the rate mentioned against it in the corresponding entry in column (3) thereof.

					SCHEDULE - I

	Sl.	FOREIGN CURRENCY	RATE OF EXHANGE OF ONE UNIT OF FOREIGN  
	No.				CURRENCY EQUIVALENT TO INDIAN RUPEES

	(1)	(2)					(3)

	1.	Austrain Schilling				3.27
	2.	Australian Dollar				28.60
	3.	Canadian Dollar				29.55
	4.	Danish Kroner				6.05
	5.	Deutsche Mark				23.00
	6.	Dutch Guilder				20.40
	7.	EURO					45.00
	8.	French franc				6.85
	9.	Hong Kong Dollar				5.60
	10.	Norwegian Kroner				5.55
	11.	Pound Sterling				68.65
	12.	Swedish Kroner				5.15
	13.	Swiss Franc				28.15
	14.	Singapore Dollar				25.55
	15.	U.S.Dollar				43.50


					SCHEDULE - II

	Sl.	FOREIGN CURRENCY	RATE EXHANGE OF 100 UNIT OF FOREIGN 
	No.				CURRENCY EQUIVALENT TO INDIAN RUPPES

	(1)	(2)					(3)

	1.	Belgian Francs			        	111.60
	2.	Italian Lira				2.32
	3.	Japanese Yen				35.65

Sd/-
(S.K.Sinha)
Director

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