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Core Purpose

Notification No. 53/2023-Customs (N.T.) issued by the Central Board of Indirect Taxes and Customs revising the tariff values for specified edible oils, precious metals, brass scrap and areca nuts under sub-section (2) of section 14 of the Customs Act, 1962.

Detailed Summary

The Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes and Customs, vide Notification No. 53/2023-Customs (N.T.), S.O. 3148(E) dated 14th July 2023, in exercise of powers 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)), last amended by Notification No. 47/2023-Customs (N.T.) dated 30th June 2023 (S.O. 2833(E)), by substituting Tables 1, 2 and 3 of tariff values with effect from 15th July 2023: Table-1 sets tariff values in US dollars per metric tonne for Crude Palm Oil (902), RBD Palm Oil (914), Other Palm Oil (908), Crude Palmolein (918), RBD Palmolein (921), Other Palmolein (920), Crude Soya Bean Oil (1008) and Brass Scrap all grades (4761); Table-2 sets tariff values for Gold (630 per 10 grams) and Silver (792 per kilogram) under specified conditions linked to Notification No. 50/2017-Customs dated 30.06.2017; and Table-3 retains the tariff value for Areca Nuts at 10379 US dollars per metric tonne (no change); the notification is signed by Harish Kumar, Under Secretary, under file number F. No. 467/01/2023-Cus.V.

Full Text

4553 GI/202 3 (1) रजिस्ट्री सं. डी.एल.- 33004/99 REGD. No . D. L. -33004/99 EXTRAORDINARY PART II —Section 3 —Sub-section ( ii) PUBLISHED BY AUTHORITY No. 3019 ] NEW DEL HI, FRIDAY, JULY 14, 2023/ASHADHA 23, 194 5 CG-DL-E-14072023-247350 (1) (2) (3) (4) (1) (2) (3) (4) (1) (2) (3) (4) MINISTRY OF FINANCE (Department of Revenue ) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATI ON New Delhi, the 14th July, 2023 No. 53 /2023-CUSTOMS (N.T.) S.O. 3148(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 (Dep artment 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, f or TABLE -1, TABLE -2, and TABLE -3 the following Tables shall be substituted, namely: - “TABLE -1 Sl. No. Chapter/ heading/ sub-heading/tariff item Description of goods Tariff value (US $Per Metric Tonne) (1) (2) (3) (4) 1 1511 10 00 Crude Palm Oil 902 2 1511 90 10 RBD Palm Oil 914 3 1511 90 90 Others – Palm Oil 908 4 1511 10 00 Crude Palmolein 918 5 1511 90 20 RBD Palmolein 921 6 1511 90 90 Others – Palmolein 920 7 1507 10 00 Crude Soya bean Oil 1008 8 7404 00 22 Brass Scrap (all grades) 4761 TABLE -2 Sl. No. Chapter/ heading/ sub-heading/tariff item Description of goods Tariff value (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 630 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 792 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 -manu factured 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 s ilver or articles made of silver. 792 per kilogram 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. 630 per 10 grams TABLE -3 Sl. No. Chapter/ heading/ sub-heading/tariff item Description of goods Tariff value (US $ Per Metric Ton) (1) (2) (3) (4) 1 080280 Areca nuts 10379 (i.e., no change)” 2. This notification shall come into force with effect from the 15th day of July, 2023. [F. No. 467/01/2023 -Cus.V] HARISH KUMAR , Under Sec y. 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. 47/2023 -Customs (N.T.), dated th e 30th June, 2023, e -published in the Gazette of India, Extraordinary, Part -II, Section -3, Sub -section (ii), vide number S.O. 2833(E), dated 30th June, 2023. Uploaded by Dte. of Printing at Government of India Press, Ring R oad, Mayapuri, New Delhi -110064 and Published by the Controller of Publications, D elhi-110054.

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