Finance Ministry notifies Customs Tariff Value of Oil, Gold, Silver and Areca Nuts [Read Notification]

The Central Board of Indirect Taxes & Customs ( CBIC ), under the Ministry of Finance, has issued notification no. 24/2025-CUSTOMS ( N.T. ) dated 15th April, 2024, amending the tariff value of crude palm oil, gold, silver, and areca nuts, effective from April 16, 2024.

For the past few months, all the goods have witnessed huge increases in the tariff value at a slow pace.

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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	1153
	1511 90 10	RBD Palm Oil	1162
	1511 90 90	Others – Palm Oil	1158
	1511 10 00	Crude Palmolein	1173
	1511 90 20	RBD Palmolein	1176
	1511 90 90	Others – Palmolein	1175
	1507 10 00	Crude Soya bean Oil	1098
	7404 00 22	Brass Scrap (all grades)	5469

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	1032 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	1045 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	1045 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.	1032 per 10 grams

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TABLE 3

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

To Read the full text of the Notification CLICK HERE

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