The Central Board of Indirect Taxes and Customs (CBIC) amended the Customs Tariff Value of certain goods like crude palm oil, crude soya bean oil, gold, silver..etc vide notification no. 36/2023 published on 15th May 2023.
As per the notification, the Central Government within its jurisdiction and powers conferred by the Section 14(2) Customs Act, 1962 amended the Principal Notification No. 36/2001-Customs, dated the 3rd August 2001 in the public interest.
The following numerals mentioned in the Tariff value of the following Tables were substituted through this notification.
TABLE 1
| Sl No. | Chapter/ heading/ subheading/tariff item | Description of Goods | Tariff Value (US $Per Metric Tonne) (as per Notfi. No. 36/2023 of 16th May 2023) | Tariff Value (US $Per Metric Tonne) (as per notif. no. 32/2023 of 28th April 2023) |
| 1. | 1511 10 00 | Crude Palm Oil | 988 | 1001 |
| 2. | 1511 90 10 | RBD Palm Oil | 1020 | 1022 |
| 3. | 1511 90 90 | Others – Palm Oil | 1004 | 1012 |
| 4. | 1511 10 00 | Crude Palmolein | 1030 | 1041 |
| 5. | 1511 90 20 | RBD Palmolein | 1033 | 1044 |
| 6. | 1511 90 90 | Others – Palmolein | 1032 | 1043 |
| 7. | 1507 10 00 | Crude Soya bean Oil | 983 | 1024 |
| 8. | 7404 00 22 | Brass Scrap (all grades) | 5105 | 5154 |
TABLE 2
| Sl. No. | Chapter/ heading/ subheading/tariff item | Description of Goods | Tariff Value (US $Per Metric Tonne) (as per present notification – 15th May 2023) | Tariff Value (US $Per Metric Tonne) (as per old notification -28th April 2023) |
| 1 | 71 or 98 | Gold, in any form, in respect of which the benefit of entries at serial number 356 of the Notification No. 50/2017-Customs dated 30.06.2017 is availed | 650 per 10 grams | 639 per 10 grams |
| 2 | 71 or 98 | Silver, in any form, in respect of which the benefit of entries at serial number 357 of the Notification No. 50/2017-Customs dated 30.06.2017 is availed | 773 per kilogram | 815 per kilogram |
| 3 | 71 | (i) Silver, in any form, other than medallions and silver coins having silver content not below 99.9% or semi manufactured forms of silver falling under sub-heading 7106 92; (ii) Medallions and silver coins having silver content not below 99.9% or semi manufactured forms of silver falling under sub-heading 7106 92, other than imports of such goods through post, courier or baggage. Explanation. – For the purposes of this entry, silver in any form shall not include foreign currency coins, jewellery made of silver or articles made of silver. | 773 per kilogram | 815 per kilogram |
| 4 | 71 | (i) Gold bars, other than tola bars, bearing manufacturer’s or refiner’s engraved serial number and weight expressed in metric units; (ii) Gold coins having gold content not below 99.5% and gold findings, other than imports of such goods through post, courier or baggage. Explanation. – For the purposes of this entry, “gold findings” means a small component such as hook, clasp, clamp, pin, catch, screw back used to hold the whole or a part of a piece of Jewellery in place. | 650 per 10 grams | 639 per 10 grams |
TABLE 3
| S1. No. | Chapter/ heading/ subheading/tariff item | Description of Goods | Tariff Value (US $Per Metric Tonne) (as per present notification – 15th May 2023) | Tariff Value (US $Per Metric Tonne) (as per old notification -28th April 2023) |
| 1 | 080280 | Areca nuts | 10379 (i.e., no change)” | 10379 (i.e., no change)” |
In the Table 3, as per the current notification there is no change in the tariff value of the Areca nuts.
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