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2020 ] THIS FORTNIGHT A47
2020 to revise exchange rates of Korean Won with effect from 27-3-2020. The val-
ue of one Korean Won now stands at ` 6.35 for import and 5.95 for export. —
Notification No. 32/2020-Cus. (N.T.), dated 26-3-2020. (See page N42)
Exchange rates for Norwegian Kroner and Pound Sterling for import
and export of goods revised. — The C.B.I. & C. has amended Notification No.
27/2020-Cus.(N.T.) dated 19-3-2020 with effect from 28-3-2020 to revise exchange
rates of Norwegian Kroner and Pound Sterling for imports and export. — Notifi-
cation No. 34/2020-Cus. (N.T.), dated 27-3-2020. (See page N45)
Exchange rates for Australian Dollar for import and export of goods
revised. — The C.B.I. & C. has amended Notification No. 27/2020-Cus. (N.T.),
dated 19-3-2020 to revise exchange rates of Australian Dollar with effect from
31-3-2020. The value of one Australian dollar now stands at ` 47.35 for imports
while ` 45.15 for exports. — Notification No. 35/2020-Cus. (N.T.), dated 30-3-2020.
(See page N46)
Exchange rates for import and export of goods. — Exchange rates for
Indian Rupee have been revised for imports and exports w.e.f. 2-4-2020. The val-
ue of USD now stands at ` 76.35 for imports while ` 74.65 for exports. — Notifica-
tion No. 37/2020-Cus. (N.T.), dated 1-4-2020. (See page N49)
Novel Corona Virus pandemic (COVID-19) — Various measures an-
nounced by Government to facilitate trade during the lockdown period under
Customs Section 143AA - Clarification. — In the light of unprecedented situa-
tion caused due to COVID-19 pandemic and representations received from the
field formations about difficulty being faced by importers/exporters and their
authorised Customs Brokers in obtaining notarised stamp papers for furnishing
bonds required by Customs in certain situations during the assessment and
clearance of goods, C.B.I. & C. has approved relaxation of the requirement to
submit bonds prescribed under Sections 18, 59 and 143, and under various Noti-
fications, subject to compliance of prescribed conditions up to 30-4-2020. — M.F.
(D.R.). Circular No. 17/2020-Cus., dated 3-4-2020. (See page T5)
India Trade Agreements — Clearance of goods under India’s Trade
Agreements without original Certificate of Origin - Clarification. — In view of
the Trade Notice No. 62/2019-20, dated 6-4-2020 issued by D.G.F.T. in consulta-
tion with C.B.I. & C. to mitigate the difficulties being faced by importers in pro-
ducing the original Certificates of Origin (CoO) on account of disruptions caused
by the COVID-19 pandemic, the C.B.I. & C. has directed its field formations to
allow clearance of goods against provisional assessment in terms of Section 18 of
the Customs Act where a preferential treatment of goods under a Free Trade
Agreement (FTA) has been claimed but the original hard copy of CoO has not
been submitted or only digitally signed copy or unsigned copy of CoO is submit-
ted. The final assessment may be done subsequently on submission of the origi-
nal Certificate of Origin (CoO) by the importer. — M.F. (D.R.) Circular No.
18/2020-Cus., dated 11-4-2020. (See page T7)
Electronic communication of PDF based Gate-pass and OOC (Out of
Charge) copy of Bill of Entry to Custom Brokers/Importers - Paperless Cus-
toms. — In order to mitigate the unprecedented situation due to COVID-19 pan-
demic, C.B.I. & C. has taken a number of measures to facilitate & expedite cus-
toms clearance process making it more and more contact-less. In this direction,
Board has now decided to enable electronic communication of PDF based Final
EXCISE LAW TIMES 15th April 2020 47
