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.
General Circular No. 4/2002 informs about the Companies (Acceptance of Deposits) Amendment Rules, 2002, as published in GSR 77(E) on 4th February 2002.
