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CBIC notifies New Customs Tariff Values for Palm Oil, Gold, Silver, and Areca Nuts [Read Notification]
MoF has updated the customs tariff value, signifying a change in the assessment of goods for customs-related purposes with effect from 7th March 2024
CBIC – Palm oil customs tariff – Gold tariff values update – TAXSCAN
CBIC – Palm oil customs tariff – Gold tariff values update – TAXSCAN
The Central Board of Indirect Taxes & Customs ( CBIC ), under the Ministry of Finance, vide notification no. 17/2024-CUSTOMS (N.T.) has notified the amendment in tariff value of crude palm oil, Gold, Silver and Areca Nuts with effect from 7th March 2024.
In the said notification, for TABLE-1, TABLE-2, and TABLE-3 the following Tables shall be substituted, namely: -
TABLE 1
| S.No. | Chapter/ heading/ subheading/tariff item | Description of goods | Tariff value (US $Per Metric Tonne) |
| 1511 10 00 | Crude Palm Oil | 891(i.e., no change) | |
| 1511 90 10 | RBD Palm Oil | 902 (i.e., no change) | |
| 1511 90 90 | Others – Palm Oil | 897 (i.e., no change) | |
| 1511 10 00 | Crude Palmolein | 907 (i.e., no change) | |
| 1511 90 20 | RBD Palmolein | 910 (i.e., no change) | |
| 1511 90 90 | Others – Palmolein | 909 (i.e., no change) | |
| 1507 10 00 | Crude Soya bean Oil | 903 (i.e., no change) | |
| 7404 00 22 | Brass Scrap (all grades) | 4937 (i.e., no change) |
TABLE 2
| Sl.No. | Chapter/ heading/subheading/ tariff item | Description of Goods | Tariff Value (US $Per Metric Tonne) |
| 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 | 687 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 | 724 per kilogram (i.e., no change) |
| 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 | 724 per kilogram (i.e., no change) |
| 4 | (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. | 687 per 10 grams |
TABLE 3
| S.No. | Chapter/ heading/ subheading/tariff item | Description of goods | Tariff value (US $Per Metric Tonne) |
| 080280 | Areca nuts | 6259 (i.e., no change) |
To Read the full text of the Order CLICK HERE
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