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Core Purpose

Notification revising tariff values under section 14(2) of the Customs Act, 1962 for specified edible oils and brass scrap for customs valuation purposes.

Detailed Summary

By S.O. 1117(E), Notification No. 17/2024-Customs (N.T.) dated 6th March 2024, the Central Board of Indirect Taxes and Customs, Department of Revenue, Ministry of Finance, exercising powers under sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), substitutes Tables 1, 2 and 3 of its earlier notification No. 36/2001-Customs (N.T.) dated 3rd August 2001 (S.O. 748(E)) to revise tariff values in US dollars per metric tonne for specified goods, including Crude Palm Oil (891), RBD Palm Oil (902), Other Palm Oil (897), Crude Palmolein (907), RBD Palmolein (910), Other Palmolein (909), Crude Soya bean Oil (903) and Brass Scrap of all grades (4937), with the notification indicating most values are unchanged from the prior notification.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-06032024-252679 EXTRAORDINARY PART II-Section 3-Sub-section (ii) PUBLISHED BY AUTHORITY No. 1060] NEW DELHI, WEDNESDAY, MARCH 6, 2024/PHALGUNA 16, 1945 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 6th March, 2024 No. 17/2024-CUSTOMS (Ν.Τ.) S.O. 1117(E).— In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, being satisfied that it is necessary and expedient to do so, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated the 3rd August, 2001, namely:- In the said notification, for TABLE-1, TABLE-2, and TABLE-3 the following Tables shall be substituted, namely: - "TABLE-1 +--------+---------------------------------+---------------------------+--------------------------------+ | Sl. No. | Chapter/heading/sub-heading/ | Description of goods | Tariff value | | | tariff item | | (US $Per Metric Tonne) | +========+=================================+===========================+================================+ | (1) | (2) | (3) | (4) | +--------+---------------------------------+---------------------------+--------------------------------+ | 1 | 1511 10 00 | Crude Palm Oil | 891(i.e., no change) | | 2 | 1511 90 10 | RBD Palm Oil | 902 (i.e., no change) | | 3 | 1511 90 90 | Others - Palm Oil | 897 (i.e., no change) | | 4 | 1511 10 00 | Crude Palmolein | 907 (i.e., no change) | | 5 | 1511 90 20 | RBD Palmolein | 910 (i.e., no change) | | 6 | 1511 90 90 | Others - Palmolein | 909 (i.e., no change) | | 7 | 1507 10 00 | Crude Soya bean Oil | 903 (i.e., no change) | | 8 | 7404 00 22 | Brass Scrap (all grades) | 4937 (i.e., no change) | +--------+---------------------------------+---------------------------+--------------------------------+ TABLE-2 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-----------------------------------------------------------+-----------------------------------+-----------------------------------+ | Sl. No. | Chapter/heading/ sub- | Description of goods | Tariff value | | | heading/tariff item | | (US $ Per Metric Tonne) | +=========+=================================+===================================+================================+ | (1) | (2) | (3) | (4) | +=========+=================================+===================================+================================+ | 1. | 71 or 98 | Gold, in any form, in respect of which the benefit of | 687 per 10 grams | | | | entries at serial number 356 of the Notification No. | | | | | 50/2017-Customs dated 30.06.2017 is availed | | +---------+---------------------------------+---------------------------------------------------------+--------------------------------+ | 2. | 71 or 98 | Silver, in any form, in respect of which the benefit of | 724 per kilogram | | | | entries at serial number 357 of the Notification No. | (i.e., no change) | | | | 50/2017-Customs dated 30.06.2017 is availed | | +---------+---------------------------------+---------------------------------------------------------+--------------------------------+ | 3. | 71 | (i) Silver, in any form, other than medallions and | 724 per kilogram | | | | silver coins having silver content not below 99.9% or | (i.e., no change) | | | | 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. | | +---------+---------------------------------+---------------------------------------------------------+--------------------------------+ | 4. | 71 | (i) Gold bars, other than tola bars, bearing | 687 per 10 grams | | | | 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. | | +---------+---------------------------------+---------------------------------------------------------+--------------------------------+ TABLE-3 +--------+---------------------------------+------------------+----------------------------+ | Sl. No. | Chapter/heading/ sub- | Description of goods | Tariff value | | | heading/tariff item | | (US $ Per Metric Ton) | +========+=================================+==================+============================+ | (1) | (2) | (3) | (4) | +--------+---------------------------------+------------------+----------------------------+ | 1 | 080280 | Areca nuts | 6259 (i.e., no change)" | +--------+---------------------------------+------------------+----------------------------+ 2. This notification shall come into force with effect from the 07th day of March, 2024. [F. No. 467/01/2024-Cus.V] RADHE KRISHNA, Under Secy. Note: - The principal notification was published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide Notification No. 36/2001–Customs (N.T.), dated the 3rd August, 2001, vide number S. O. 748 (Ε), dated the 3rd August, 2001 and was last amended vide Notification No. 16/2024-Customs (N.T.), dated the 29th February, 2024 e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O. 986 (E), dated 29th February, 2024. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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