CBEC notifies exchange rates for November 2008
The CBEC has notified the Exchange Rates for Imported Goods and Export Goods with effect from 1st November 2008. Notification NO.111/2008 (NT)-CUSTOMS, Dated: 26th September, 2008, is superseded.
Should this news be the top story in DDT? We were always under the impression that this is not big news, but we often get frantic calls from concerned Netizens when the announcement is delayed. Recently when the Board revised the exchange rates midmonth by Notification No. 114/2008 – Cus NT, dated 24.10.2008, we had anxious calls enquiring whether it was a fact and as to why the Notification was not carried by the Department's official website.
An importer told us that a Customs officer refused to accept the rates given in the notification carried by TIOL as there was no official communication. We advised the importer to follow the Department's objection and pay less duty.
Notification NO. (NT)-CUSTOMS, Dated: October 29, 2008