Edible Oil rates get a relief while precious metals increase

April 15, 2021 News Desk Agriculture & Commodities 0

Apr 15: 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.Description of goodsTariff value(US $Per Metric Tonne)
1Crude Palm Oil1081
2RBD Palm Oil1105
3Others – Palm Oil1093
4Crude Palmolein1111
5RBD Palmolein1114
6Others – Palmolein1113
7Crude Soya bean Oil1292
8Brass Scrap (all grades)5148
Sl. No.Description of goodsTariff value(US $)
1.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 availed559 per 10 grams
2.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 availed816 per kilogram
 3.(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.816 per kilogram
4.(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.559 per 10 grams
Sl. No.Description of goodsTariff value(US $ Per Metric Tonne)
1Areca nuts4670”

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. 37/2021-Customs (N.T.), dated the 31st  March, 2021, e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O. 1419 (E), dated 31st  March, 2021.

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