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Core Purpose

Notification under sub-section (2) of section 14 of the Customs Act, 1962 revising the tariff values for edible oils, brass scrap, gold, silver and areca nuts under notification No. 36/2001-Customs (N.T.).

Detailed Summary

This notification, issued by the Central Board of Indirect Taxes and Customs under the Ministry of Finance (Department of Revenue) on 23rd October 2023 vide Notification No. 78/2023-Customs (N.T.) and S.O. 4631(E), exercises powers under sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962) to amend Notification No. 36/2001-Customs (N.T.) dated 3rd August 2001, S.O. 748(E) of the same date, by substituting revised Tables 1, 2 and 3 specifying tariff values, effective from 24th October 2023. Table 1 sets tariff values in US dollars per metric tonne for edible oils and brass scrap, all recorded as unchanged: Crude Palm Oil at $859, RBD Palm Oil at $863, Other Palm Oil at $861, Crude Palmolein at $868, RBD Palmolein at $871, Other Palmolein at $870, Crude Soya Bean Oil at $972, and Brass Scrap (all grades) at $4,682. Table 2 sets tariff values for gold at $640 per 10 grams and silver at $716 per kilogram, covering gold and silver benefiting from entries 356 and 357 of Notification No. 50/2017-Customs dated 30th June 2017, other qualifying silver forms excluding foreign currency coins, silver jewellery or articles, and specified gold bars, coins and findings. Table 3 sets the tariff value for areca nuts at $8,068 per metric tonne, unchanged. The notification is issued under File No. 467/01/2023-Cus.V and signed by Harish Kumar, Under Secretary, and notes the principal notification was last amended vide Notification No. 75/2023-Customs (N.T.) dated 13th October 2023, S.O. 4507(E).

Full Text

6747 GI/202 3 (1) EXTRAORDINARY PART II —Section 3 —Sub-section ( ii) PUBLISHED BY AUTHORITY No. 4452] NEW DELHI, MON DAY , OCTOBER 23, 2023/ KARTIKA 1, 1945 CG-DL-E-23102023-249646 (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 ) NOTIFICATION New Delhi, 23rd October, 2023 No. 78/2203-CUSTOMS (N.T.) S.O. 4631 (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 e xpedient 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, Extraordi nary, 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 859 (i.e., no change) 2 1511 90 10 RBD Palm Oil 863 (i.e., no change) 3 1511 90 90 Others – Palm Oil 861 (i.e., no change) 4 1511 10 00 Crude Palmolein 868 (i.e., no change) 5 1511 90 20 RBD Palmolein 871 (i.e., no change) 6 1511 90 90 Others – Palmolein 870 (i.e., no change) 7 1507 10 00 Crude Soya bean Oil 972 (i.e., no change) 8 7404 00 22 Brass Scrap (all grades) 4682 (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 356 of the Notification No. 50/2017 -Customs dated 30.06.2017 is availed 640 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 716 per kilogram (i.e., no change) 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 coins, jewellery made of silver or articles made of silver. 716 per kilogram (i.e., no change) 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, pi n, catch, screw back used to hold the whole or a part of a piece of Jewellery in place. 640 per 10 grams TABLE -3 Sl. No. Chapter/ heading/ sub - heading/tariff item Description of goods Tariff value (US $ Per Metric Tonne) (1) (2) (3) (4) 1 080280 Areca nuts 8068 (i.e., no change)‖ 2. This notification shall come into force with effect from the 24th day of October, 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. 75/2023 -Customs (N.T.), dated the 13th October, 2023, e -published in the Gazette of India, Extraordinary, Part -II, Section -3, Sub -section (ii), vide number S.O. 4507(E), dated 13th October, 2023. Uploaded by Dte. of Printing at Government of India Press, Ring R oad, Mayapuri, New Delhi -110064 and Publis hed by the Controller of Publications, Delhi -110054.

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