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Core Purpose

Notification amending tariff values for edible oils, gold, silver, brass scrap and areca nuts under the Customs Act, 1962.

Detailed Summary

The Central Board of Indirect Taxes and Customs, Department of Revenue, Ministry of Finance, issued Notification No. 60/2023-Customs (N.T.) dated 14th August 2023, exercising powers under sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), to substitute Tables 1, 2 and 3 of the principal notification No. 36/2001-Customs (N.T.) dated 3rd August 2001 (S.O. 748(E)) with revised tariff values; the amendment fixes updated US-dollar tariff values for crude and RBD palm oil, palmolein, crude soya bean oil, brass scrap, gold, silver and areca nuts, and states that it takes effect from 15th August 2023; the notification also records that the principal notification was last amended by Notification No. 56/2023-Customs (N.T.) dated 31st July 2023 (S.O. 3419(E)); it was signed by Harish Kumar, Under Secretary, under file number F. No. 467/01/2023-Cus.V.

Full Text

5251 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 (1) (2) (3) (4) No. 3481] NEW D ELHI, MON DAY , AUGUST 1 4, 2023/ SHRAVANA 23, 1945 CG-DL-E-14082023-248094 (1) (2) (3) (4) (1) (2) (3) (4) MINISTRY OF FINANCE (Department of Revenue ) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS ) NOTIFICATION New Delhi, 14th August, 2023 No. 60/2023-CUSTOMS (N.T.) S.O. 3640 (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 Minist ry 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 sa id notification, for 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 892 2 1511 90 10 RBD Palm Oil 910 3 1511 90 90 Others – Palm Oil 901 4 1511 10 00 Crude Palmolein 921 5 1511 90 20 RBD Palmolein 924 6 1511 90 90 Others – Palmolein 923 7 1507 10 00 Crude Soya bean Oil 1031 8 7404 00 22 Brass Scrap (all grades) 4874 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 617 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 742 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. Explanation. - For the purposes of this entry, silver in any form shall not include foreign currency coin s, jewellery made of silver or articles made of silver. 742 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 use d to hold the whole or a part of a piece of Jewellery in place. 617 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 August , 2023. [F. No. 467/01/2023 -Cus.V] HARISH 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. 56/2023 -Customs (N.T.), dated the 31st July, 2023, e-published in the Gazette of India, Extraordinary, Part -II, Section -3, Sub -section (ii), vide number S.O. 3419 (E), dated 31st July, 2023 . Uploaded by Dte. of Printing at Government of India Press, Ring R oad, Mayapuri, New Delhi -110064 and Published by the Controller of Pub lications, Delhi -110054.

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