CBIC has made amendments to the exchange rate for Turkish Lira in the Customs Act. The amendment will be implemented through Notification No. 46/2023 – Customs (N.T.) with effect from 24th June 2023.
The amendment replaces the existing rate of exchange for Turkish Lira in Schedule-I of the Customs Notification. The new rate of exchange for imported goods is set at 3.40 Indian rupees per unit of Turkish Lira, while for export goods, it is set at 3.15 Indian rupees per unit of Turkish Lira. It will have implications for trade transactions involving Turkish Lira and will come into effect from 24th June 2023.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
New Delhi
*****
Notification No. 46/2023 – Customs (N.T.) | dated the 23rd June, 2023
02 Ashadha 1945 (SAKA)
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes and Customs hereby makes the following amendments in the Central Board of Indirect Taxes and Customs Notification No.44/2023-CUSTOMS (N.T.), dated 15th June, 2023 with effect from 24th June, 2023.
In the SCHEDULE-I of the said Notification, for serial No.18 and the entries relating thereto, the following shall be substituted, namely: –
SCHEDULE-I
| Sl.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) | ||
| 18. | Turkish Lira | 3.40 | 3.15 |
[F.No.468/01/2023-Cus.V]
(Harish Kumar)
Under Secretary to the Govt. of India
