Gazette Tracker
Gazette Tracker

Core Purpose

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

Detailed Summary

The Central Board of Indirect Taxes and Customs, Ministry of Finance (Department of Revenue), issued Notification No. 37/2024-Customs (N.T.), S.O. 2070(E), dated 21 May 2024, under sub-section (2) of Section 14 of the Customs Act, 1962 (52 of 1962), amending Notification No. 36/2001-Customs (N.T.) dated 3 August 2001 (S.O. 748(E)) by substituting revised Tables 1, 2, and 3 of tariff values. Table 1 fixes tariff values (in US$ per metric tonne) at 892 for crude palm oil, 907 for RBD palm oil, 900 for other palm oil, 919 for crude palmolein, 922 for RBD palmolein, 921 for other palmolein, 935 for crude soya bean oil, and 5,587 for brass scrap (all grades), all unchanged from the prior notification. Table 2 sets tariff values of US$758 per 10 grams for gold and US$1,028 per kilogram for silver, both eligible under Notification No. 50/2017-Customs entry serial numbers 356 and 357 respectively, dated 30 June 2017. Table 3 fixes areca nuts (heading 080280) at US$6,033 per metric tonne, also unchanged. The amendment takes effect from 22 May 2024. The principal notification (No. 36/2001-Customs (N.T.)) was last amended by Notification No. 35/2024-Customs (N.T.), S.O. 1995(E), dated 15 May 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-21052024-254288 EXTRAORDINARY PART II-Section 3-Sub-section (ii) PUBLISHED BY AUTHORITY No. 1971] NEW DELHI, TUESDAY, MAY 21, 2024/VAISAKHA 31, 1946 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 21st May, 2024 No. 37/2024-CUSTOMS (N.T.) S.O. 2070(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-heading/tariff item|Description of goods |Tariff value (US $Per Metric Tonne)| +======+======================================+==========================+================================+ | (1) | (2) | (3) | (4) | +------+--------------------------------------+--------------------------+--------------------------------+ | 1 | 1511 10 00 | Crude Palm Oil | 892 (i.e., no change) | | 2 | 1511 90 10 | RBD Palm Oil | 907 (i.e., no change) | | 3 | 1511 90 90 | Others - Palm Oil | 900 (i.e., no change) | | 4 | 1511 10 00 | Crude Palmolein | 919 (i.e., no change) | | 5 | 1511 90 20 | RBD Palmolein | 922 (i.e., no change) | | 6 | 1511 90 90 | Others - Palmolein | 921 (i.e., no change) | | 7 | 1507 10 00 | Crude Soya bean Oil | 935 (i.e., no change) | | 8 | 7404 00 22 | Brass Scrap (all grades) | 5587 (i.e., no change) | +------+--------------------------------------+--------------------------+--------------------------------+ 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 | 758 per 10 grams | | | | 356 of the Notification No. 50/2017-Customs dated 30.06.2017 is availed | (i.e., no change) | +------+--------------------------------------+----------------------------------------------------------------------------------+--------------------------------+ | 2. | 71 or 98 | Silver, in any form, in respect of which the benefit of entries at serial number | 1028 per kilogram | | | | 357 of the Notification No. 50/2017-Customs dated 30.06.2017 is availed | | +------+--------------------------------------+----------------------------------------------------------------------------------+--------------------------------+ | 3. | 71 | (i) Silver, in any form, other than medallions and silver coins having silver | 1028 per kilogram | | | | 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. | | +------+--------------------------------------+----------------------------------------------------------------------------------+--------------------------------+ | 4. | 71 | (i) Gold bars, other than tola bars, bearing manufacturer's or refiner's | 758 per 10 grams | | | | engraved serial number and weight expressed in metric units; | (i.e., no change) | | | | (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, silver in any form shall not include foreign currency coins, jewellery made of silver or articles made of silver. 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-heading/tariff item|Description of goods |Tariff value (US $ Per Metric Ton)| +======+======================================+======================+================================+ | (1) | (2) | (3) | (4) | +------+--------------------------------------+----------------------+--------------------------------+ | 1 | 080280 | Areca nuts | 6033 (i.e., no change)" | +------+--------------------------------------+----------------------+--------------------------------+ 2. This notification shall come into force with effect from the 22nd day of May, 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 (Ε), dated the 3rd August, 2001 and was last amended vide Notification No. 35/2024-Customs (N.T.), dated the 15th May, 2024 e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O. 1995 (E), dated 15th 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.

Never miss important gazettes

Create a free account to save gazettes, add notes, and get email alerts for keywords you care about.

Sign Up Free