Subject:-Launch of Exchange Rate Automation Module(ERAM)

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a7 COS/APR/MISC/6089/2022-A/Mil)-070 Commr-CUS-Nhava Sheva-! . _ , | i) rarer (GL),See . a a OFFICE OF THE COMMISSIONER OF CUSTOMS (NS-]), j if j MUMBAI ZONE-I, a gr iN i ATRIA TCE, “RTARTA os : | OmSa JAWAHAR. LAL NEHRU CUSTOM HOUSE, NHAVA-SHEVA-—_ | TAL-URAN, DIST- RAIGAD, MAHARASHTRA-490707 Pa i > 2% Ae PUBLIC NOTICE NO. 5 +/2024-25 ‘4 a aH L DIN:2024-06-2NX000 000A48A Date: 27.06.2024[;] } 2 2026: casie | | Subject: Launch of Exchange Rate Automation Module (ERAM)=reg: "OBER re i H attention of all importers, exporters, customs brokers, members Of Oueg ) | general trade, and all other stakeholders is invited to the CBIC Circular .No. ay EAS _ 07/2024-Customs, dated 25th June, 2024[[F.] No. 468/1/2011-SO(Cus9)]. we 3 earcuhited 2... In terms of section 14 of the Customs Act, the value of any imported eee 4. . goods or, export-,goods.-shall be calculated. with reference to the rate of. . on the date on which a bill of entry is presented under cored Segeeiiie PEO _ exchange as inforce ..,..+. section 46,.or a shipping bill/bill ofexport is presented under section 50. For : sor ecNeI yh Sk BS this purpose, Board currently notifies exchange rates of 22 currencies (listed - ~ 2 Li, .-'y: at Annexure),..twice amonth, i.e. every 1st and 3rd Thursdays. These: i Srniekey Spy onotihed exchange rates, become effective from’ midnight ‘of the following day. =. Where a due date, i.e. Ist or 3rd Thursday, falls on a holiday, the rates are : notifiedon the previous working days 2.5 Ree i OER aii 5 eee 3 at =.

effective from’ midnight ‘of the following day. =. Where a due date, i.e. Ist or 3rd Thursday, falls on a holiday, the rates are : notifiedon the previous working days 2.5 Ree i OER aii 5 eee 3 at =. Sai i : = 2 2A “Purther, on a given day, if it is noticed that exchange rate of a currency a ee Sam the folowing Bas fluctuated more than + 5% vis-a-vis the notified rate, the rate for that te -currency is re-notified with effect from the following. day. res . ae : : ia . ae ss These notifications, are based on the rates obtained from the State Bank 7 ‘i of India (SBI) on a. daily basis. The SBI communicates ‘card rates’ which ; hoa ty Letters 0include ‘Bill rates’, TT rates’ and TC rates’ to CBIC every day. While the Bill 4 VC raice lor i rates. are used in: transactions related to Letters of Credit, the TT: rates are gas Shee? Noptine _ ased-in telegraphic transfers and TC rates for travelers’ cheques.to Rs The10 rl a teskh) — meet lope tess foe ogy hotified by the Board are the Bill rates (for transaction up i" eceived from SBI, adjusted to the nearest five paise. . Deteos wy , ge 4. 5 The existing process of notifying exchange rates is manual. Also, the . 33 ¢ Ce ping pein var Kates 80 notified are manually incorporated in the Indian Customs EDI + © System (ICES) by an officer designatedfor this purpose. of issuing. — oS | af inte 28 5, _ «it has now been decided to automate the aforesaid process nore -. exchange rates, beginning with forwarding of exchange rate data by SBI to See Bice etter ati Hitt ICEGATE through message exchange.

«it has now been decided to automate the aforesaid process nore -. exchange rates, beginning with forwarding of exchange rate data by SBI to See Bice etter ati Hitt ICEGATE through message exchange. The exchange rates received from SBI ays ae shall be adjusted to the nearest five paise and integrated with ICES. . eos a ai te s dese Onan BORPE exchange rates shall be published on ICEGATE website at 6:00 1 and Para 1.1 above) and — sate toting o> Pm, as per the existing frequency (as stated in Para a os ghall be accessible for public, viewing on ‘ICEGATE . website i.e. ;

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) g a4 ; 3 https: / /www.icegate.gov.in. . . ; : +7. These'rates, so published online, shall come into effect frommidnight ie the following day. For instance, exchange rates published on the 34 and ; 11th July 2024 shall come into force from 00:00 hrs of 12th July 2 | ; ‘shall remain in force till the next revision. — i ; | 8. The published exchange rates will be stored and shall soe | accessible on ICEGATE for future reference, so aS to enable a user to chec = the exchange rates for a previous date. . ie oaks As a contingency plan for catering to any technical snag, the following . procedure shall be followed for ensuring uninterrupted accessibility, of. exchange rates at any given time: “- ;, Nodal Officers have been appointedin the SBI, Board, ICD (Patparganj), | Tene S S Air Cargo Complex (Bengaluru) and DG (Systems) to monitor and — manually intervene, where needed. - Gi, Nodal Officerat ICD (Patpdrganj) shall continue to monitor the exchange = =) hadscos.

e S S Air Cargo Complex (Bengaluru) and DG (Systems) to monitor and — manually intervene, where needed. - Gi, Nodal Officerat ICD (Patpdrganj) shall continue to monitor the exchange = =) hadscos. Bates in ICES as per the current practice. If any issue is noticed or in case aes ae = of any unforeseen exigencies, he shall inform the Nodal Officer in DG re ee iii. Where, on a due date when the rates are to be published, there is a failure Pa as nee; ae Ste e s abie a inthee l ectronicast upda t ransmised rate s ionshall from SBI remain or in anforce incompletefor the following message isday received,and the ee “rates shall be revised the following day by 6:00 p.m. to apply from 00:00 ss . Sy 4 Shes of the nest dave eee er Pei ae cee iv. Where, on a due date when the rates are to be published, the exchange "rates receivedfrom SBI fail to get integrated on ICES by 6:00 p.m., the een rea i message received from SBI shall be discarded and the last updated rates ages Solera aetna shall remain in force for the following day. The rates shall be revised the Befollowingdayby6:00 p.m. to apply from 00:00 hrs of the next day. pa aeeaea n e es aeee“y. As automatedsoon as. ‘emailthe situationand ‘SMS indicaaler t edwill atbe(iii)sentor (iv)to theaboveNodalis encountered,Officers at ICDan | oi" Patpargan)), Air. Cargo Complex (Bengaluru), DG (System). SBI and the ae ee aa Board’ for corrective _ action. If the issue remains unresolved for. Saas ee "consecutive.

tered,Officers at ICDan | oi" Patpargan)), Air. Cargo Complex (Bengaluru), DG (System). SBI and the ae ee aa Board’ for corrective _ action. If the issue remains unresolved for. Saas ee "consecutive. two.days, the exchange rates shall be updated on the System ee we, "throughmanual intervention using the ‘admin’ interface by the Nodal Lae N Sk ___ Officer at ICD (Patparganj). ! el . hs Hin 10, ”. ‘The, automated system of ascertaining and publishing of exchange ~~ e ...... rates, as above, ‘shall comeinto effect from 1st Thursday of July 2024,ie. — stay ae " 4th July, 2024, upon which the[existing][system][of][notifying][exchange][rates] ese _. through, the CBIC website which Will take the user to the ICEGATE website, where the. Hania a notification would be dispensed with. A link shall be providedon ss "published rates will be available for viewing. : | “11, ‘This Public Notice should be considered as Standing Order for the _ ..__., concerned officers and staff of this Customs House. ees seta ie 12. . _ Difficulties faced (if any) may be brought immediately to the notice of Jesae "*""“""Kddl.email atCommissionerappraisingmain.jnch@gov.in.of Customs, Appraising Main. (Import),. JNCH through

12. . _ Difficulties faced (if any) may be brought immediately to the notice of Jesae "*""“""Kddl.email atCommissionerappraisingmain.jnch@gov.in.of Customs, Appraising Main. (Import),. JNCH through

/» 13, All the stakeholders including the trade and concerned associations are / requested to take note of above for necessary action. . , , Signed by Dhirendra Singh a Garbyal 7 | Dat27-06-20 31: #7 SO gaRE Tip? . Commissioner of Customs, . f ; : NS I, JNCH, Nhava Sheva | : j i Copy to: . eeebloges Fells Chief Commissioner of Customs, Mumbai Zone-ll, Nhava Sheva. ke poker e 9.-The Commissioners of Customs, NS-I, NS-II, NS-II, NS-V, NS-G and NSae = Audit, Nhava Sheva. . / 5-3, All Additional/Joint Commissioners of Customs, Nhava Sheva. ag . RN | bya 4. All Dy./Asstt. Commissioners of Customs, Nhava Sheva. : <5 All Sections/Groups/Docks/RMSFC/DYCC, Nhava Sheva through JNCH ae ear website. » . PERSUE Rtaen get ctethe aR eee: ses ~ ><" 6 AC/DC, EDI for uploading on JNCH website. : | 7-The BOBA | 58) Vee Ge ci , fae BE [1 )-28 Australian Dollar : te. | “Qatari Riyal | = aa fe ee Eee= -Canadian Dollar .. - . Singapore Dollar 2 pore ke (ae ae “Hong Kong dollar _ ~ ‘Turkish Lira Eee subiect + 1ev510" Note!The list Of currencies is subject to revision from time to time, based on requirement of the trade.