FinMin Increases Customs Tariff Value for Silver [Read Order]
CBIC has increased the tariff value of silver to US$ 2817 per kilogram, effective 25 February 2026
The Ministry of Finance has issued Customs Notification No. 23/2026-Customs (N.T.) dated 24 February 2026, increasing the customs tariff value for silver, thereby revising the base value for calculation of import duty with effect from 25 February 2026.
As per the substituted Table 2, the tariff value of silver has been increased to US $2817 per kilogram, as against the earlier value of US$ 2421 per kilogram. The tariff value of gold remains unchanged at US$ 1624 per 10 grams. These values apply to imports where the benefit of entries at serial numbers 194 and 195 of Notification No. 45/2025-Customs dated 24.10.2025 is availed.
Apart from silver, the notification also substitutes tariff value tables for crude palm oil, palmolein, crude soyabean oil, brass scrap, and areca nuts, with their respective tariff values retained without change.
Table 1: Tariff Values for Edible Oils and Brass Scrap
| Sl. No. | Chapter / Heading / Sub-heading / Tariff Item | Description of Goods | Tariff Value (US $ per Metric Tonne) |
| 1 | 1511 10 00 | Crude Palm Oil | 1086 (no change) |
| 2 | 1511 90 10 | RBD Palm Oil | 1088 (no change) |
| 3 | 1511 90 90 | Others – Palm Oil | 1087 (no change) |
| 4 | 1511 10 00 | Crude Palmolein | 1090 (no change) |
| 5 | 1511 90 20 | RBD Palmolein | 1093 (no change) |
| 6 | 1511 90 90 | Others – Palmolein | 1092 (no change) |
| 7 | 1507 10 00 | Crude Soyabean Oil | 1202 (no change) |
| 8 | 7404 00 22 | Brass Scrap (all grades) | 7391 (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 194 of the Notification No. 45/2025-Customs dated 24.10.2025 is availed | 1624 per 10 grams (no change) |
| 2 | 71 or 98 | Silver, in any form, in respect of which the benefit of entries at serial number 195 of the Notification No. 45/2025-Customs dated 24.10.2025 is availed | 2817 per kilogram (increased) |
| 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. | 2817 per kilogram (increased) |
| 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 - 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. | 1624 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 | 7020 (no change) |
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