70. Customs Updates Summary of notifications issued in the month of May 19 - Hiregange & Associates - H N A & Co LLP (formerly known as Hiregange & Associates LLP)

1. RATE OF EXCHANGE OF CONVERSION INTO INDIAN CURRENCY

OR VICE VERSA WITH EFFECT FROM 3^rd MAY, 2019 TO 16^th MAY 2019

(Notification No. 35/2019-Customs (N.T) dated 02.05.2019)

With effect from 3^rd May, 2019, the CBIC has fixed the rate of exchange for conversion of each of the foreign currencies mentioned below, relating to imported and export goods, for computation of Customs Duty as per section 14 of the Customs Act, 1962.

Schedule - I

Sl.No.	Foreign Currency	Rate of exchange of one unit of foreign currency equivalent to Indian rupees
(1)	(2)	(3)
		For imported goods	For exported goods
1.	Australian Dollar	50.05	47.85
2.	Bahraini Dinar	190.75	178.85
3.	Canadian Dollar	52.75	50.85
4.	Chinese Yuan	10.50	10.15
5.	Danish Kroner	10.65	10.25
6.	EURO	79.50	76.55
7.	Hong Kong Dollar	9.05	8.70
8.	Kuwaiti Dinar	236.60	221.35
9.	New Zealand Dollar	47.50	45.30
10.	Norwegian Kroner	8.20	7.90
11.	Pound Sterling	92.55	89.30
12.	Qatari Riyal	19.75	18.50
13.	Saudi Arabian Riyal	19.20	18.00
14.	Singapore Dollar	52.10	50.25
15.	South African Rand	5. 00	4.65
16.	Swedish Kroner	7.45	7.15
17.	Swiss Franc	69.75	67.10
18.	Turkish Lira	12.05	11.30
19.	UAE Dirham	19.60	18.35
20.	US Dollar	70.45	68.80

SCHEDULE-II

Sl.No.	Foreign Currency	Rate of exchange of 100 units of foreign currency equivalent to Indian rupees
(1)	(2)	(3)
		For imported goods	For exported goods
1.	Japanese Yen	63.60	61.25
2.	Korean Won	6.20	5.80

RATE OF EXCHANGE OF CONVERSION INTO INDIAN CURRENCY OR VICE VERSA WITH EFFECT FROM 17^TH MAY, 2019 TO 31^st MAY 2019

(Notification No. 37/2019- Customs (N.T) dated 16^th May’19)

With effect from 17^th May, 2019, the following rates of exchange for conversion of each of the foreign currencies mentioned below, relating to imported and export goods, for computation of Customs Duty as per section 14 of the Customs Act, 1962.
The currencies mentioned are similar to the currencies mentioned in the above notification (35/2019). The below mentioned rates are applicable from 17^th May, 2019, whereas notification No. 35/2019 is applicable from 3^rd May, 2019, to 16^th May, 2019.
Also, notification No. 39/2019- Customs (N.T) dated 31st May’19 was issued to further amend the rate of South African Rand with effect from 1^st June’19

SCHEDULE-I

Sl.No.	Foreign Currency	Rate of exchange of one unit of foreign currency equivalent to Indian rupees
(1)	(2)	(3)
		For imported goods	For exported goods
1.	Australian Dollar	49.8	47.55
2.	Bahraini Dinar	192.65	180.7
3.	Canadian Dollar	53.25	51.4
4.	Chinese Yuan	10.4	10.05
5.	Danish Kroner	10.75	10.35
6.	EURO	80.3	77.35
7.	Hong Kong Dollar	9.15	8.8
8.	Kuwaiti Dinar	238.75	223.9
9.	New Zealand Dollar	47.35	45.15
10.	Norwegian Kroner	8.2	7.9
11.	Pound Sterling	92	88.75
12.	Qatari Riyal	19.95	18.7
13.	Saudi Arabian Riyal	19.35	18.15
14.	Singapore Dollar	52.3	50.5
15.	South African Rand	5.1	4.8
16.	Swedish Kroner	7.45	7.2
17.	Swiss Franc	71.1	68.35
18.	Turkish Lira	12.05	11.3
19.	UAE Dirham	19.75	18.55
20.	US Dollar	71.15	69.5

Schedule II

Sl.No.	Foreign Currency	Rate of exchange of 100 units of foreign currency equivalent to Indian rupees
(1)	(2)	(3)
		For import of goods	For export of goods
1.	Japanese Yen	65.45	63
2.	Korean Won	6.1	5.75

Notification 39/2019-Customs (N.T) dated 31^st May’19

Sl.No.	Foreign Currency	Rate of exchange of 100 units of foreign currency equivalent to Indian rupees
(1)	(2)	(3)
		For import of goods	For export of goods
15	South African Rand	4.85	4.55

CHANGES IN THE TARIFF VALUE OF GOODS

(Notification No.36/2019- Customs (N.T) dated 15^th May’19 and Notification No.38/2019-

Customs (N.T) dated 31^st May’19)

Notification No. 36/2001- Customs (N.T) dated 3^rd August, 2001, has declared the tariff value in respect of imported goods mentioned below. Notification No. 36/2019 has been issued to amend these tariff values, notification No. 38/2019 has been issued to further amend the tariff values as below

TABLE-1

Sl. No.	Chapter/ heading/ sub-heading/tariff item	Description of goods	Tariff value (US $Per Metric Tonne) *(Notification - 36/2019) w.e.f. 15^th May ’19 to* *30^th May’19*	Tariff value (US $Per Metric Tonne) *(Notification - 38/2019) w.e.f. 31^st* *May ‘19*
(1)	(2)	(3)	(5)	(4)
1	1511 10 00	Crude Palm Oil	522	514
2	1511 90 10	RBD Palm Oil	551	546
3	1511 90 90	Others – Palm Oil	537	530
4	1511 10 00	Crude Palmolein	553	552
5	1511 90 20	RBD Palmolein	556	555
6	1511 90 90	Others – Palmolein	555	554
7	1507 10 00	Crude Soya bean Oil	689	709
8	7404 00 22	Brass Scrap (all grades)	3687	3560
9	1207 91 00	Poppy seeds	3350	3350

TABLE-2

Sl. No.

Chapter/ heading/ sub-heading/tariff item

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