Central Board of Indirect Taxes and Customs, under the aegis of the Government of India’s Ministry of Finance, has made critical amendments regarding exchange rates, a factor pivotal to both imports and exports. These changes, concerning the Turkish Lira, came into force on 26th August 2023.
Exchange Rate for Turkish Lira: The revised exchange rates for the Turkish Lira are as follows:
- For Imported Goods: The rate stands at 3.30 Indian rupees for one unit of Turkish Lira.
- For Export Goods: The rate has been set at 3.10 Indian rupees for one unit of Turkish Lira.
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Government of India
Ministry of Finance
(Department of Revenue)
Central Board of Indirect Taxes and Customs
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Notification No. 62/2023 – Customs (N.T.) | Dated: 25th August, 2023
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.61/2023-CUSTOMS (N.T.), dated 17th August, 2023 with effect from 26th August, 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 | 3.30 | 3.10 |
[F.No.468/01/2023-Cus.V]
(Harish Kumar)
Under Secretary to the Govt. of India
