Finance Ministry Revises Customs Tariff Values for Palm Oil, Soya Bean Oil, Gold and Silver, and Areca Nuts
The Finance Ministry has retained existing customs tariff values for key imports, including a recently increased silver rate of USD 1189/kg, effective June 12, 2025
The Central Board of Indirect Taxes and Customs (CBIC), under the Ministry of Finance, has issued Notification No. 42/2025-Customs (N.T.), dated June 11, 2025, updating the customs tariff value tables under Section 14(2) of the Customs Act, 1962. The new rates are effective from June 12, 2025.Standardize Accounting Policies – Specimen Drafts at Your Fingertips! Perfect for internal...
The Central Board of Indirect Taxes and Customs (CBIC), under the Ministry of Finance, has issued Notification No. 42/2025-Customs (N.T.), dated June 11, 2025, updating the customs tariff value tables under Section 14(2) of the Customs Act, 1962. The new rates are effective from June 12, 2025.
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This notification replaces Notification No. 38/2025-Customs (N.T.), dated May 30, 2025, and retains the same tariff values set in that update. While most values remain unchanged, the earlier notification introduced a notable increase in the tariff value of silver, which continues in this latest update.
Key Highlights
- No changes to tariff values for edible oils, gold, brass scrap, and areca nuts.
- Silver tariff value was increased in the previous notification from USD 1080/kg to USD 1189/kg and is now being retained.
Table 1: Tariff Values for Edible Oils and Brass Scrap
| Sl. No. | Chapter/Heading/Sub-heading/Tariff Item | Description of Goods | New Tariff Value (US $ Per Metric Tonne) |
| 1 | 1511 10 00 | Crude Palm Oil | 965 (No Change) |
| 2 | 1511 90 10 | RBD Palm Oil | 1018 (No Change) |
| 3 | 1511 90 90 | Others – Palm Oil | 992 (No Change) |
| 4 | 1511 10 00 | Crude Palmolein | 1023 (No Change) |
| 5 | 1511 90 20 | RBD Palmolein | 1026 (No Change) |
| 6 | 1511 90 90 | Others – Palmolein | 1025 (No Change) |
| 7 | 1507 10 00 | Crude Soybean Oil | 1092 (No Change) |
| 8 | 7404 00 22 | Brass Scrap (All Grades) | 5483 (No Change) |
Table 2: Tariff Values for Gold and Silver
| Sl. No. | Chapter/Heading/Sub-heading/Tariff Item | Description of Goods | New Tariff Value (US $) | |
| 1 | 71 or 98 | Gold, in any form, in respect of which the benefit of entries at serial number 356 of Notification No. 50/2017-Customs dated 30.06.2017 is availed | 1067 per 10 grams (No Change) | |
| 2 | 71 or 98 | Silver, in any form, in respect of which the benefit of entries at serial number 357 of Notification No. 50/2017-Customs dated 30.06.2017 is availed | 1189 per kilogram (↑ from 1080) | |
| 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. | 1189 per kilogram (↑ from 1080) | |
| 4 | 71 | (i) Gold bars, other than tola bars, bearing the 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 a hook, clasp, clamp, pin, catch, screw back used to hold the whole or a part of a piece of jewellery in place. | 1067 per 10 grams (No Change) | |
Table 3: Tariff Value for Areca Nuts
| Sl. No. | Chapter/Heading/Sub-heading/Tariff Item | Description of Goods | New Tariff Value (US $ Per Metric Tonne) |
| 1 | 080280 | Areca Nuts | 6970 (No Change) |
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