CBIC notifies amendment of Tariff Rates of Oil, Palmolein Gold and Silver [Read Notification]

The Central Government has amended the Customs Tariff Value of certain goods including Palm oil, gold, silver, areca nuts ..etc vide notification no. 53/2023 published on 14th July 2023. The ministry already amended the same on 30th June 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.

TABLE 1

Sl No.	Chapter/ heading/subheading/ tariff item	Description of Goods	Tariff Value (US $Per Metric Tonne) (as per Notfi. No. 53/2023 of 14th July 2023)	Tariff Value (US $Per Metric Tonne) (as per notif. no. 47/2023 of 30th June 2023)
1.	1511 10 00	Crude Palm Oil	902	855
2.	1511 90 10	RBD Palm Oil	914	867
3.	1511 90 90	Others – Palm Oil	908	861
4	1511 10 00	Crude Palmolein	918	877
5.	1511 90 20	RBD Palmolein	921	880
6.	1511 90 90	Others – Palmolein	920	1010
7.	1507 10 00	Crude Soya bean Oil	1008	983
8.	7404 00 22	Brass Scrap (all grades)	4761	4925

TABLE 2

Sl.No.	Chapter/ heading/subheading/ tariff item	Description of Goods	Tariff Value (US $Per Metric Tonne) (as per Notfi. No. 38/2023 of 31st May 2023)	Tariff Value (US $Per Metric Tonne) (as per notif. no. 32/2023 of 15th May 2023)
	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	630 per 10 grams	612 per 10 grams
	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	792 per kilogram	740 per kilogram
	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	792 per kilogram	740 per kilogram
	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 a hook, clasp, clamp, pin, catch, screw back used to hold the whole or a part of a piece of Jewellery in place.	630 per 10 grams	6512 per 10 grams

TABLE 3

Sl.No.	Chapter/ heading/ subheading/tariff item	Description of Goods	Tariff Value (US $Per Metric Tonne) (as per Notfi. No. 38/2023 of 31st May 2023)	Tariff Value (US $Per Metric Tonne) (as per notif. no. 32/2023 of 15th May 2023)
	080280	Areca nuts	10379 (i.e., no change)	10379 (i.e., no change)

To Read the full text of the Order CLICK HERE

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