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Rate of exchange applicable for the purposes of calculation of anti-dumping duty shall be the rate which is specified in the notification of the Government of India in the Ministry of Finance (Department of Revenue), issued from time to time, in exercise of the powers under sub-clause (i) of clause (a) of sub-section (3) of section 14 of the said Customs Act, and the relevant date for determination of the rate of exchange shall be the date of presentation of the bill of entry under section 46 of the said Customs Act.
The issue has been examined in the Board. It appears that the field formations are applying the instructions contained in Drawback Circular No.10/2001-Cus dated 23.2.2001.
directed to forward herewith a copy of the following Notification published in the Gazette of India (Extraordinary) for your information and necessary action.
