CBIC updates Customs Tariff Rates of Gold, Silver and Oil [Read Notification]

The Central Board of Indirect Taxes & Customs ( CBIC ), under the Ministry of Finance, has issued notification no. 34/2025-CUSTOMS ( N.T. ) dated 15th May, 2025, amending the tariff value of crude palm oil, gold, silver, and areca nuts, effective from 16th May, 2025.

The tariff rates of the oils were reduced compared to previous notification, however, the tariff of gold and silver is increasing.

In the said notification, for TABLE-1, TABLE-2, and TABLE-3 the following Tables shall be substituted, namely: -

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TABLE 1

S.No.	Chapter/ heading/ subheading/tariff item	Description of goods	Tariff value (US $Per Metric Tonne)
1	1511 10 00	Crude Palm Oil	987
2	1511 90 10	RBD Palm Oil	1011
3	1511 90 90	Others – Palm Oil	999
4	1511 10 00	Crude Palmolein	1019
5	1511 90 20	RBD Palmolein	1022
6	1511 90 90	Others – Palmolein	1021
7	1507 10 00	Crude Soya bean Oil	1070
8	7404 00 22	Brass Scrap (all grades)	5473

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	1028 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	1065 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	1065 per kilogram
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.	1028  per 10 grams

TABLE 3

S.No.	Chapter/ heading/ subheading/tariff item	Description of goods	Tariff value (US $Per Metric Tonne)
1	080280	Areca nuts	6970”(no change)

To Read the full text of the Notification CLICK HERE

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