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Core Purpose

Notification No. 79/2023-Customs (N.T.) by the Central Board of Indirect Taxes and Customs revising tariff values for edible oils, brass scrap, precious metals and areca nuts under the Customs Act, 1962, effective 1st November 2023.

Detailed Summary

Issued under sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962) by the Central Board of Indirect Taxes and Customs, Department of Revenue, Ministry of Finance, this notification amends Notification No. 36/2001-Customs (N.T.) dated 3rd August 2001 (S.O. 748(E)), which was last amended by Notification No. 78/2023-Customs (N.T.) dated 23rd October 2023 (S.O. 4631(E)). Tables 1 to 3 of the principal notification are substituted with new tariff values: Crude Palm Oil US$842/MT, RBD Palm Oil US$859/MT, Others-Palm Oil US$851/MT, Crude Palmolein US$863/MT, RBD Palmolein US$866/MT, Others-Palmolein US$865/MT, Crude Soya bean Oil US$956/MT, and Brass Scrap (all grades) US$4591/MT (Table 1); Gold US$643 per 10 grams and Silver US$749 per kilogram under specified conditions (Table 2); and Areca nuts at US$8068/MT, unchanged (Table 3). The notification comes into force from 1st November 2023.

Full Text

6909 GI/202 3 (1) EXTRAORDINARY PART II —Section 3 —Sub-section ( ii) PUBLISHED BY AUTHORITY No. 4564 ] NEW DELHI, TUES DAY , OCTOBER 31, 2023/ KARTIKA 9, 1945 CG-DL-E-31102023-249819 (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, the 31st October , 2023 No. 79/2023-CUSTOMS (N.T.) S.O. 4752(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, Extraord inary, 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 842 2 1511 90 10 RBD Palm Oil 859 3 1511 90 90 Others – Palm Oil 851 4 1511 10 00 Crude Palmolein 863 5 1511 90 20 RBD Palmolein 866 6 1511 90 90 Others – Palmolein 865 7 1507 10 00 Crude Soya bean Oil 956 8 7404 00 22 Brass Scrap (all grades) 4591 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 643 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 749 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 coins, jewellery made of silver or articles made of silver. 749 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. 643 per 10 grams TABLE -3 Sl. No. Chapter/ headin g/ 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 01st day of November , 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. 78/2023 -Customs (N.T.), dated the 23rd October , 2023, e -published in the Gazette of India, Extraordinary, Part -II, Section -3, Sub -section (ii ), vide number S.O. 4631 (E), dated 23rd October, 2023 . Uploaded by Dte. of Printing at Government of India Press, Ring R oad, Mayapuri, New Delhi -110064 and Published b y the Controller of Publications, Delhi -110054.

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