CBIC Notifies Changes in Tariff Values [Read Notification]

CBIC Notifies Changes in Tariff Values - CBIC - Tariff Values - Tariff - Taxscan

The Central Board of Indirect Taxes and Customs (CBIC) notified significant changes in the customs Tariff Values.

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, made the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated the 3rd August, 2001, namely:-

As per the amendment in said notification, for TABLE-1, TABLE-2, and TABLE-3 the following Tables shall be substituted,

“TABLE-1

Sl. No.Chapter/ heading/ subheading/tariff itemDescription of goodsTariff value  (US $Per Metric Tonne)
(1)(2)(3)(4) 
11511 10 00Crude Palm Oil855
21511 90 10RBD Palm Oil867
31511 90 90Others – Palm Oil861
41511 10 00Crude Palmolein877
51511 90 20RBD Palmolein880
61511 90 90Others – Palmolein879
71507 10 00Crude Soya bean Oil1010
87404 00 22Brass Scrap (all grades)4925

4             THE GAZETTE OF INDIA : EXTRAORDINARY               [PART II—SEC. 3(ii)]

TABLE-2

Sl. No.Chapter/ heading/ subheading/tariff itemDescription of goodsTariff value (US $)
(1)(2)(3)(4)
  1.71 or 98Gold, 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 612 per 10 grams 
  2.71 or 98Silver, 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  740 per kilogram 
           3.71Silver, 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; 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.  740 per kilogram 
        4.  71Gold  bars, other  than  tola  bars, bearing manufacturer’s or refiner’s engraved serial number and weight expressed in metric units; 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. 612 per 10 grams  

TABLE-3

Sl. No.Chapter/ heading/ subheading/tariff itemDescription of goodsTariff value (US $ Per Metric Ton)
(1)(2)(3)(4)
1080280Areca nuts10379 (i.e., no change)‖

The notification shall come into force with effect from the 01st  day of July, 2023.

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