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20 Jul 2013

Conversion Rate for Foreign Exchange (w.e.f. 19th July, 2013)

As per Section 67A of the Finance Act, 1994 read with explanation to Section 14 of the Customs Act, 1962, rate of exchange for calculation of gross value of taxable service would be the rate, as determined by CBEC for the conversion of foreign currency into Indian currency or vice versa, applicable on the date on which taxable service has been provided or agreed to be provided. CBEC from time to time issues Notification to notify rate of exchange determined by it. For Rate of Exchange applicable from 19th July, 2013 please refer Annexure-A.
 

Annexure-A

SCHEDULE-I
S. No.
Foreign Currency
Rate of exchange of one unit of foreign currency equivalent to Indian rupees
(1)
(2)
(3)
(a)
(b)
(For Imported Goods)
(For Export Goods)
1.
Australian Dollar
55.35
53.95
2.
Bahrain Dinar
161.45
152.55
3.
Canadian Dollar
57.65
56.25
4.
Danish Kroner
10.60
10.25
5.
EURO
78.60
76.85
6.
Hong Kong Dollar
7.70
7.55
7.
Kenya Shilling
70.40
66.10
8.
Kuwait Dinar
213.70
201.15
9.
New Zealand Dollar
47.30
45.90
10.
Norwegian Kroner
10.00
9.70
11.
Pound Sterling
90.55
88.45
12.
Singapore Dollar
47.45
46.35
13.
South African Rand
6.20
5.85
14.
Saudi Arabian Riyal
16.25
15.35
15.
Swedish Kroner
9.10
8.85
16.
Swiss Franc
63.65
62.05
17.
UAE Dirham
16.55
15.65
18.
US Dollar
59.65
58.65
SCHEDULE-II
S. No.
Foreign Currency
Rate of exchange of 100 units of foreign currency equivalent to Indian rupees
(1)
(2)
(3)
(a)
(b)
(For Imported Goods)
(For Export Goods)
1.
Japanese Yen
60.30
58.80