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Core Purpose

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

Detailed Summary

On 15 November 2023, the Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 82/2023-CUSTOMS (N.T.), S.O. 4938(E), under sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), amending Tables 1, 2 and 3 of the principal notification No. 36/2001-Customs (N.T.) dated 3 August 2001 (S.O. 748(E)); the amendment revises tariff values including Crude Palm Oil (US$849/MT), RBD Palm Oil (US$861/MT), Crude Palmolein (US$865/MT), RBD Palmolein (US$868/MT), Crude Soya Bean Oil (US$1001/MT), Brass Scrap (US$4633/MT), Gold (US$634 per 10 grams), Silver (US$723 per kilogram) and Areca Nuts (US$8068 per metric tonne, unchanged), and notes the principal notification was last amended by Notification No. 79/2023-Customs (N.T.) dated 31 October 2023 (S.O. 4752(E)); the amendment took effect from 16 November 2023 and was signed by Komila Punia, Deputy Secretary, under file number F. No. 467/01/2023-Cus.V.

Full Text

7160 GI/202 3 (1) EXTRAORDINARY PART II —Section 3 —Sub-section ( ii) PUBLISHED BY AUTHORITY No. 4729] NEW DELHI, THURS DAY , NOVEMBER 16, 2023/ KARTIKA 25, 1945 CG-DL-E-16112023-250059 (1) (2) (3) (4) (1) (2) (3) (4) (1) (2) (3) (4) MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF I NDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 15th November , 2023 No. 82/2023-CUSTOMS (N.T.) S.O. 4 938(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 T axes & 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/tariff item Description of goods Tariff value (US $Per Metric Tonne) (1) (2) (3) (4) 1 1511 10 00 Crude Palm Oil 849 2 1511 90 10 RBD Palm Oil 861 3 1511 90 90 Others – Palm Oil 855 4 1511 10 00 Crude Palmolein 865 5 1511 90 20 RBD Palmolein 868 6 1511 90 90 Others – Palmolein 867 7 1507 10 00 Crude Soya bean Oil 1001 8 7404 00 22 Brass Scrap (all grades) 4633 TABLE -2 Sl. No. Chapter/ heading/ sub - heading/tariff item Descript ion 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 634 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 723 per kilogram 3. 71 (i) Silver, in any form, other than medallions and silver coins having si lver 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 coins, jewellery made of silver or articles made of silver. 723 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, cou rier 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. 634 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 8068(i.e., no change)” 2. This notification shall come into force with effect from the 16th day of November, 202 3. [F. No. 467/01/2023 -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. 79/2023 -Customs (N.T.), dated the 31st October, 2023, e -published in the Gazette of India, Extraordinary, Part -II, Section -3, Sub -section (ii), vide number S .O. 4752 (E), dated 31st October, 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, Delhi -110054.

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