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The Central Board of Indirect Taxes and Customs amends Circular 07/2024-Customs to update the automated exchange rate module and contingency rules. Principal Chief Commissioners, Chief Commissioners, and Directors General of Customs and CGST must apply the revised publication procedures when a due date falls on a holiday or when system integration fails. If a due date falls on a holiday, the system publishes the last received rates from SBI on that day. If integration fails or rates are missing, the system publishes the rates by 6 PM. If automated integration into ICES fails by 6 PM, the Nodal officer at ICD Patparganj updates the rates manually before midnight.
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F. No. 468/1/2011-SO (Cus5) Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes & Customs
Room No. 227 A, North Block, New Delhi Dated 18th September, 2024
To,
All Principal Chief Commissioners/Chief Commissioners of Customs All Principal Chief Commissioners/Chief Commissioners of Customs (Preventive) All Principal Chief Commissioners/Chief Commissioners of CGST & Customs All Principal Directors General/Directors General under CBIC
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 $4^{\text{th}}$ 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 07/2024-Customs dated $25^{\text{th}}$ June, 2024-
a) At the end of Paragraph 4.1, the following sentence is inserted: "Where a due date, i.e. $1^{\text{st}}$ or $3^{\text{rd}}$ Thursday, falls on a holiday, the last/latest received rates from SBI would be published on ICEGATE website on the $1^{\text{st}}$ or $3^{\text{rd}}$ Thursday itself."
b) Point (iii) of Paragraph 7 of the aforesaid Circular is substituted with: "(iii) Where a due date, i.e., $1^{\text{st}}$ or $3^{\text{rd}}$ 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 integrated 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. of the next day."
c) Point (iv) of Paragraph 7 of the aforesaid Circular is substituted with: "(iv) Where, on a due date i.e., $1^{\text{st}}$ or $3^{\text{rd}}$ Thursday of a month or when there is +/-5% variation in the rates of any of the foreign currencies requiring publication of the revised 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 notify 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. of the next day."
d) Point (v) of Paragraph 7 of the aforesaid Circular is deleted.
Yours faithfully,
[Image omitted. See the official document.] (Megha Bansal) Under Secretary to the Govt. of India
