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Core Purpose

Notification amending tariff values for specified goods (edible oils, brass scrap, precious metals, areca nuts) under sub-section (2) of section 14 of the Customs Act, 1962, by substituting Tables 1, 2 and 3 of Notification No. 36/2001-Customs (N.T.) dated 3rd August, 2001.

Detailed Summary

The Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes and Customs, by Notification No. 71/2023-Customs (N.T.), S.O. 4256(E) dated 29th September 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)), as last amended by Notification No. 67/2023-Customs (N.T.) dated 15th September 2023 (S.O. 4086(E)), by substituting revised tariff values in Tables 1, 2 and 3, setting new US dollar-denominated tariff values including Crude Palm Oil at $864/MT, RBD Palm Oil at $876/MT, Crude Palmolein at $889/MT, Crude Soya Bean Oil at $1,011/MT, Brass Scrap at $4,776/MT, Gold at $603 per 10 grams, Silver at $737 per kilogram, and Areca Nuts unchanged at $7,765/MT; the notification takes effect from 30th September 2023 and is signed by Harish Kumar, Under Secretary, under File No. 467/01/2023-Cus.V.

Full Text

6168 GI 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. 4085] NEW DELHI, FRIDAY , SEPTEMBER 29, 2023/ ASVINA 7, 1945 CG-DL-E-29092023-249052 (1) (2) (3) (4) (1) (2) (3) (4) MINISTRY OF FINAN CE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 29th Septe mber , 2023 No. 71/2023 -Customs (N.T.) S.O. 4256(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 expedie nt to do so, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Re venue), 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 864 2 1511 90 10 RBD Palm Oil 876 3 1511 90 90 Others – Palm Oil 870 4 1511 10 00 Crude Palmolein 889 5 1511 90 20 RBD Pa lmolein 892 6 1511 90 90 Others – Palmolein 891 7 1507 10 00 Crude Soya bean Oil 1011 8 7404 00 22 Brass Scrap (all grades) 4776 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 603 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 737 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 f orms 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 ba ggage. 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. 737 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. 603 per 10 grams TABLE -3 Sl. No. Chapter/ heading/ sub - heading/tariff item Descr iption of goods Tariff value (US $ Per Metric Ton) (1) (2) (3) (4) 1 080280 Areca nuts 7765 (i.e., no change)” 2. This notification shall come into force with effect from the 30th day of September , 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 N o. 67/2023 -Customs (N.T.), dated the 15th September , 2023, e -published in the Gazette of India, Extraordinary, Part -II, Section - 3, Sub -section (ii), vide number S.O. 4086 (E), dated 15th September , 2023 . Uploaded by Dte. of Printing at Government of India Press, Ring R oad, Maya puri, New Delhi -110064 and Published by the Controller of Publications, Delhi -110054.

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