CBIC Revises Tariff Values for Gold, Silver, Edible Oils, Brass Scrap and Areca Nuts [Read Notification]

The Central Board of Indirect Taxes and Customs (CBIC) has notified new tariff values for imported gold and silver. The rates for edible oils, brass scrap and areca nuts have been kept unchanged.

The notification was issued by the Ministry of Finance on June 11. It will come into force from June 12, 2026.

According to the notification, the tariff value of gold has been fixed at USD 1,343 per 10 grams. The tariff value of silver has been fixed at USD 2,092 per kilogram. These values apply to specified categories of gold and silver covered under the customs notification.

The CBIC has also listed tariff values for several other imported goods. There is “no change” for crude palm oil, RBD palm oil, other palm oil, crude palmolein, RBD palmolein, other palmolein, crude soybean oil, brass scrap and areca nuts.

Tariff values are used by customs authorities to calculate import duty on certain imported goods. These values are revised from time to time depending on international prices.

The revised tariff values are as follows:

• Gold: USD 1,343 per 10 grams.
• Silver: USD 2,092 per kilogram.
• Crude Palm Oil: USD 1,218 per metric tonne (no change).
• RBD Palm Oil: USD 1,222 per metric tonne (no change).
• Other Palm Oil: USD 1,220 per metric tonne (no change).
• Crude Palmolein: USD 1,230 per metric tonne (no change).
• RBD Palmolein: USD 1,233 per metric tonne (no change).
• Other Palmolein: USD 1,232 per metric tonne (no change).
• Crude Soybean Oil: USD 1,244 per metric tonne (no change).
• Brass Scrap (all grades): USD 7,655 per metric tonne (no change).
• Areca Nuts: USD 9,155 per metric tonne (no change).

The notification amends the earlier customs notification issued in 2001. Importers of precious metals and other listed goods will have to use these tariff values for customs duty assessment from June 12.

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