Rule 34. Rate of exchange of currency, other than
Indian rupees, for determination of value. -
(1) The rate of exchange for determination of value of
taxable goods shall be the applicable rate of exchange as notified by the Board
under section 14 of the Customs Act, 1962 for the date of time of supply of
such goods in terms of section 12 of the Act.
(2) The rate of exchange for determination of value of
taxable services shall be the applicable rate of exchange determined as per the
generally accepted accounting principles for the date of time of supply of such
services in terms of section 13 of the Act.]
