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Core Purpose

Notification amending tariff values for specified imported goods, including edible oils, brass scrap, gold, silver and areca nuts, under section 14(2) of the Customs Act, 1962.

Detailed Summary

Notification No. 43/2024-Customs (N.T.), S.O. 2330(E), dated 14th June, 2024, issued by the Central Board of Indirect Taxes and Customs (Ministry of Finance, Department of Revenue) under sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), amends the principal notification No. 36/2001-Customs (N.T.) dated 3rd August, 2001 (S.O. 748(E) dated 3rd August, 2001), as last amended by Notification No. 38/2024-Customs (N.T.) dated 31st May, 2024 (S.O. 2162(E) dated 31st May, 2024), by substituting revised Tables 1, 2 and 3 of tariff values, including Crude Palm Oil at $906 per metric tonne, RBD Palm Oil at $932, Crude Palmolein at $935, RBD Palmolein at $938, Crude Soya Bean Oil at $988, Brass Scrap at $5,669, Gold at $744 per 10 grams, Silver at $945 per kilogram, and Areca Nuts at $6,242 per metric tonne; the amendment takes effect from 15th June, 2024; issued under F. No. 467/01/2024-Cus.V and signed by Komila Punia, Deputy Secretary.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-DL-E-14062024-254710 EXTRAORDINARY PART II-Section 3-Sub-section (ii) PUBLISHED BY AUTHORITY No. 2212] NEW DELHI, FRIDAY, JUNE 14, 2024/JYAISHTHA 24, 1946 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 14th June, 2024 No. 43/2024-CUSTOMS (N.Τ.) S.O. 2330(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 | 906 | +--------+-------------------------------------+-----------------------------+-----------------------------------+ | 2 | 1511 90 10 | RBD Palm Oil | 932 | +--------+-------------------------------------+-----------------------------+-----------------------------------+ | 3 | 1511 90 90 | Others - Palm Oil | 919 | +--------+-------------------------------------+-----------------------------+-----------------------------------+ | 4 | 1511 10 00 | Crude Palmolein | 935 | +--------+-------------------------------------+-----------------------------+-----------------------------------+ | 5 | 1511 90 20 | RBD Palmolein | 938 | +--------+-------------------------------------+-----------------------------+-----------------------------------+ | 6 | 1511 90 90 | Others - Palmolein | 937 | +--------+-------------------------------------+-----------------------------+-----------------------------------+ | 7 | 1507 10 00 | Crude Soya bean Oil | 988 | +--------+-------------------------------------+-----------------------------+-----------------------------------+ | 8 | 7404 00 22 | Brass Scrap (all grades) | 5669 | +--------+-------------------------------------+-----------------------------+-----------------------------------+ 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 entries at serial number 356 of the Notification No. 50/2017-Customs dated 30.06.2017 is availed | 744 per 10 grams | +--------+-------------------------------------+----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+---------------------+ | 2. | 71 or 98 | Silver, in any form, in respect of which the benefit of entries at serial number 357 of the Notification No. 50/2017-Customs dated 30.06.2017 is availed | 945 per kilogram | +--------+-------------------------------------+----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------+---------------------+ | 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. | 945 per kilogram | | | | 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 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. | 744 per 10 grams | | | | 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 | 6242" | +--------+-------------------------------------+-----------------------------+-----------------------------------+ 2. This notification shall come into force with effect from the 15th day of June, 2024. [F. No. 467/01/2024-Cus.V] KOMILA PUNIA, Dy. 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. 38/2024-Customs (N.T.), dated the 31st May 2024 e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O. 2162 (E), dated 31st May 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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