Rates of exchange applicable for calculation of gross value of taxable service notified 59/2013-Cus.,(N.T.), Dated: June 06, 2013

Applicable from	June 07, 2013
Compliance of Section	Section 67A of the Finance Act, 1994 read with explanation to Section 14 of the Customs Act, 1962
What to do?	Rate of exchange for calculation of gross value of taxable service would be the rate, as determined by CBEC for the conversion of foreign currency into Indian currency or vice versa,  applicable on the date on which taxable service has been provided or agreed to be provided.
How?	CBEC from time to time issues Notification to notify rate of exchange determined by it.

Please find enclosed herewith the Notification No. 59/2013 dated June 06, 2013 containing the Rates of Exchange applicable from June 07, 2013.

NOTIFICATION NO 59/2013-Cus.,(N.T.), Dated: June 06, 2013  In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.54/2013-CUSTOMS (N.T.), dated the 16thMay, 2013 videnumber S.O.1121(E), dated the 16 th May, 2013, except as respects things done or omitted to be done before such super session, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currency specified in column (2) of each of Schedule I and Schedule II annexed hereto into Indian currency orvice versa shall, with effect from 07 th June, 2013 be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods. SCHEDULE-I S.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) 1. Australian Dollar 55.00 53.65 2. Bahrain Dinar 153.85 145.30 3. Canadian Dollar 55.20 53.85 4. Danish Kroner 10.05 9.75 5. EURO 74.60 72.90 6. Hong Kong Dollar 7.35 7.20 7. Kenya Shilling 68.25 64.15 8. Kuwait Dinar 203.20 191.80 9. New Zealand Dollar 46.05 44.70 10. Norwegian Kroner 9.85 9.55 11. Pound Sterling 87.40 85.35 12. Singapore Dollar 45.65 44.60 13. South African Rand 5.95 5.55 14. Saudi Arabian Riyal 15.45 14.60 15. Swedish Kroner 8.70 8.45 16. Swiss Franc 60.30 58.65 17. UAE Dirham 15.80 14.90 18. US Dollar 56.85 55.85 SCHEDULE-II S.No. Foreign Currency Rate of exchange of 100 units of foreign currency equivalent to Indian rupees (1) (2) (3) (a) (b) (For Imported Goods) (For Export Goods) 1. Japanese Yen 57.05 55.65 [F.No.468/03/2013-Cus.V] (SATISH KUMAR REDDY) DIRECTOR (ICD)