Edible oil trying to stabilize while gold increases

May 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	1222
2	1511 90 10	RBD Palm Oil	1245
3	1511 90 90	Others – Palm Oil	1234
4	1511 10 00	Crude Palmolein	1262
5	1511 90 20	RBD Palmolein	1265
6	1511 90 90	Others – Palmolein	1264
7	1507 10 00	Crude Soya bean Oil	1452
8	7404 00 22	Brass Scrap (all grades)	5776

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	612 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	890 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.	890 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.	612 per 10 grams

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