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Core Purpose

Notification under sub-section (2) of section 14 of the Customs Act, 1962 revising the tariff values of specified imported goods, including edible oils, precious metals, brass scrap and areca nuts.

Detailed Summary

By Notification No. 77/2024-Customs (N.T.), S.O. 4906(E), dated 12th November 2024, the Central Board of Indirect Taxes and Customs (Ministry of Finance, Department of Revenue), exercising powers under sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), amended Notification No. 36/2001-Customs (N.T.), dated 3rd August 2001 (S.O. 748(E)), by substituting new Tables 1, 2 and 3 of tariff values, effective from 13th November 2024. Table-1 sets tariff values (US $ per Metric Tonne) for Crude Palm Oil at 1046, RBD Palm Oil at 1058, Others-Palm Oil at 1052, Crude Palmolein at 1063, RBD Palmolein at 1066, Others-Palmolein at 1065, Crude Soya bean Oil at 1057, and Brass Scrap (all grades) at 5463 (all unchanged from the prior notification). Table-2 sets tariff values for gold at US $845 per 10 grams and for silver at US $1109 per kilogram, under specified chapter/heading provisions referencing Notification No. 50/2017-Customs dated 30.06.2017. Table-3 sets the tariff value for areca nuts at US $6552 per Metric Tonne (unchanged). The notification was issued under File No. 467/01/2024-Cus.V and signed by Sanjeet Kumar, Under Secretary. Notification No. 36/2001-Customs (N.T.) was last amended vide Notification No. 73/2024-Customs (N.T.), dated 30th October 2024 (S.O. 4777(E)).

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-12112024-258601 EXTRAORDINARY PART II-Section 3-Sub-section (ii) PUBLISHED BY AUTHORITY No. 4525] NEW DELHI, TUESDAY, NOVEMBER 12, 2024/KARTIKA 21, 1946 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 12th November, 2024 No. 77/2024-CUSTOMS (N.T.) S.O. 4906(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- | Description of goods | Tariff value | | | heading/tariff item | | (US $Per Metric Tonne) | +=====+===================================+===================================+============================+ | (1) | (2) | (3) | (4) | +-----+-----------------------------------+-----------------------------------+----------------------------+ | 1 | 1511 10 00 | Crude Palm Oil | 1046 (i.e., no change) | +-----+-----------------------------------+-----------------------------------+----------------------------+ | 2 | 1511 90 10 | RBD Palm Oil | 1058 (i.e., no change) | +-----+-----------------------------------+-----------------------------------+----------------------------+ | 3 | 1511 90 90 | Others - Palm Oil | 1052 (i.e., no change) | +-----+-----------------------------------+-----------------------------------+----------------------------+ | 4 | 1511 10 00 | Crude Palmolein | 1063 (i.e., no change) | +-----+-----------------------------------+-----------------------------------+----------------------------+ | 5 | 1511 90 20 | RBD Palmolein | 1066 (i.e., no change) | +-----+-----------------------------------+-----------------------------------+----------------------------+ | 6 | 1511 90 90 | Others - Palmolein | 1065 (i.e., no change) | +-----+-----------------------------------+-----------------------------------+----------------------------+ | 7 | 1507 10 00 | Crude Soya bean Oil | 1057 (i.e., no change) | +-----+-----------------------------------+-----------------------------------+----------------------------+ | 8 | 7404 00 22 | Brass Scrap (all grades) | 5463 (i.e., no change) | +-----+-----------------------------------+-----------------------------------+----------------------------+ TABLE-2 +-----+-----------------------------------+----------------------------------------------------------------------------------------------------+----------------------------+ | Sl. No. | Chapter/heading/ sub- | Description of goods | Tariff value | | | heading/tariff item | | (US $) | +=====+===================================+====================================================================================================+============================+ | (1) | (2) | (3) | (4) | +-----+-----------------------------------+----------------------------------------------------------------------------------------------------+----------------------------+ | 1. | 71 or 98 | Gold, in any form, in respect of which the benefit of | 845 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 | 1109 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 | 1109 per kilogram | | | | silver coins having silver content not below | (i.e., no change) | | | | 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. | | +-----+-----------------------------------+----------------------------------------------------------------------------------------------------+----------------------------+ | 4. | 71 | (i) Gold bars, other than tola bars, bearing | 845 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 Tonne) | +=====+===================================+===================================+============================+ | (1) | (2) | (3) | (4) | +-----+-----------------------------------+-----------------------------------+----------------------------+ | 1 | 080280 | Areca nuts | 6552 (i.e., no change)" | +-----+-----------------------------------+-----------------------------------+----------------------------+ 2. This notification shall come into force with effect from the 13th day of November, 2024. [F. No. 467/01/2024-Cus.V] SANJEET KUMAR, 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 (E), dated the 3rd August, 2001 and was last amended vide Notification No. 73/2024-Customs (N.T.), dated the 30th October 2024 e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O. 4777 (E), dated 30th October 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. SARVESH KUMAR Digitally signed by SARVESH SRIVASTAVA Date: 2024.11.12 22:17:35

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