Import of Edible Oil becomes Costlier

March 31, 2021 News Desk Agriculture & Commodities 1

Mar 31: The Central Board of Indirect Taxes & Customs makes amendments in the notification related to Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver. The new rates are as follows

Sl. No.	Chapter/ heading/ sub-heading/tariff item	Description of goods	Tariff value(US $Per Metric Tonne)
1	1511 10 00	Crude Palm Oil	1131
2	1511 90 10	RBD Palm Oil	1156
3	1511 90 90	Others – Palm Oil	1144
4	1511 10 00	Crude Palmolein	1162
5	1511 90 20	RBD Palmolein	1165
6	1511 90 90	Others – Palmolein	1164
7	1507 10 00	Crude Soya bean Oil	1302
8	7404 00 22	Brass Scrap (all grades)	5185

Sl. No.	Chapter/ heading/ sub-heading/tariff item	Description of goods	Tariff value(US $)
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	542 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	784 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 silvercontent 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 foreigncurrency coins, jewellery made of silver orarticles made of silver.	784 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.	542 per 10 grams

Sl. No.	Chapter/ heading/ sub-heading/tariff item	Description of goods	Tariff value(US $ Per Metric Tonne)
1	080280	Areca nuts	4284”

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