17/2024 : Amendment of Circular 07/2024-Customs to further ease the process of publication of automated exchange rate-reg

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C ircular No. l7l2024-Customs F. No. 468/l/201 l-SO (Cus5) Govemment of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs +*t Room No. 227 A, North Block, New Delhi Dated l8th September, 2024 To, Madam/Sir. Subject: Amendment of Circular 07/2024-Customs to further ease the process of publication of automated exchange rate-reg The exchange rate automated module came into effect from 4th July, 2024. To further streamline the module and ensure that appropriate action is taken in case of contingency, the following amendments have been made in the Circular 072024-Customs dated 25th June, 2024- a) At the end of Paragraph 4.1, the following sentence is inserted: "Where a due date, i.e. lst or 3rd Thursday, falls on a holiday, the last/latest received rates from SBI would be published on TCEGATE website on the lst or 3rd Thursday itself." b) Point (iii) ofParagraph 7 ofthe aforesaid Circular is substituted with: "(iii) Where a due date, i.e., l" or 3'd Thursday, falls on a public holiday or due to any error in API integration or where an incomplete message is received at ICEGATE, since the exchange rates from SBI would not be available, the last/latest rates received from SBI would be published on the ICEGATE Website as well as integated in the ICES system on that day and will be published by 6 PM on that day on the ICEGATE Website to be effective from 00:00 hrs. ofthe next day." c) Point (iv) ofParagraph 7 ofthe aforesaid Circular is substituted with: "(iv) Where, on a due date i.e., l" or 3'd Thursday of a month or when there is +/-5% variation in the rates of any of the foreign currencies requiring publication of the revised All Principal Chief Commissioners/Chief Commissioners of Customs All Principal Chief CommissionerVChief Commissioners of Customs (Preventive) All Principal Chief CommissionersiChief Commissioners of CGST & Customs All Principal Directors General/Directors General under CBIC rates, the exchange rates received from SBI fail to get integrated on ICES by 6 PM, an automated mail and SMS alert will be sent to all the Nodal officers at 6 PM to notiry that the rates received from SBI have not been automatically updated in ICES. Accordingly, the rates received from SBI would not be discarded but would be updated in the ICES system through manual intervention using the "Admin" interface by the Nodal officer at ICD (Patparganj) after 6 PM and before 00:00 hrs on the same day to be effective from 00:00 hrs. ofthe next day." d) Point (v) of Paragraph 7 ofthe aforesaid Circular is deleted. 2. Hindi version follows. Yours faithfully, . Mrl^* (Megha Bansal) Under Secretary to the Govt. of India