Finance Ministry Updates Customs Tariff Values for Palm Oil, Soybean Oil, Gold, Silver, and Areca Nuts [Read Notification]
Tariff values for gold and silver have been reduced across all categories, reversing the increases seen in the mid-July update.
Customs - tariff - Taxscan
Customs - tariff - Taxscan
Know Practical Aspects of Tax Planning, Click HereThe Central Board of Indirect Taxes and Customs (CBIC) under the Ministry of Finance issued Notification No. 49/2025-Customs (N.T.), dated July 31, 2025, revising the tariff values for imported goods including edible oils, brass scrap, gold, silver, and areca nuts. These updated values will come into effect from August 1, 2025.
The tariff values for most edible oils such as Crude Palm Oil, RBD Palm Oil, Other Palm Oils, and Crude Soybean Oil have seen a marginal increase compared to the previous notification dated July 15, 2025.
Brass scrap, which saw an upward revision in the last update, has now seen a moderate decrease. Interestingly, the tariff values for gold and silver across all notified categories have been reduced, partially reversing the increase seen in mid-July. The tariff value for areca nuts remains unchanged at $6970 per metric tonne.
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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 | 1012 (Increased) |
| 2 | 1511 90 10 | RBD Palm Oil | 1035 (Increased) |
| 3 | 1511 90 90 | Others – Palm Oil | 1024 (Increased) |
| 4 | 1511 10 00 | Crude Palmolein | 1041 (Increased) |
| 5 | 1511 90 20 | RBD Palmolein | 1044 (Increased) |
| 6 | 1511 90 90 | Others – Palmolein | 1043 (Increased) |
| 7 | 1507 10 00 | Crude Soybean Oil | 1120 (Increased) |
| 8 | 7404 00 22 | Brass Scrap (all grades) | 5591 (Decreased) |
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 | 1063 per 10 grams (Decreased) |
| 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 | 1224 per kilogram (Decreased) |
| 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: Silver in any form shall not include foreign currency coins, silver jewellery, or articles made of silver. | 1224 per kilogram (Decreased) |
| 4 | 71 | (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: "Gold findings" means small components like hook, clasp, clamp, pin, catch, screw back used in jewellery. | 1063 per 10 grams (Decreased) |
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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