Gazette Tracker
Gazette Tracker

Core Purpose

The Central Board of Indirect Taxes and Customs revises the tariff values for crude and refined palm oil, palmolein, soya bean oil, brass scrap, gold, silver and areca nuts under the Customs Act, 1962.

Detailed Summary

Acting under sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes and Customs (Ministry of Finance, Department of Revenue) issues Notification No. 17/2024-Customs (N.T.), S.O. 1117(E), dated 6th March 2024, amending the tariff-value notification No. 36/2001-Customs (N.T.) dated 3rd August 2001 (S.O. 748(E)) by substituting TABLE-1, TABLE-2 and TABLE-3, with effect from 7th March 2024. The revised tariff values (US dollars, per metric tonne unless stated) in TABLE-1 are: Crude Palm Oil 891, RBD Palm Oil 902, other Palm Oil 897, Crude Palmolein 907, RBD Palmolein 910, other Palmolein 909, Crude Soya Bean Oil 903, and Brass Scrap (all grades) 4937 — each marked 'no change' from the previous notification. TABLE-2 fixes Gold (Chapters 71/98, under the concession at serial number 356 of Notification No. 50/2017-Customs dated 30.06.2017) at 687 per 10 grams, and Silver (serial number 357 of the same notification), silver articles under sub-heading 7106 92, and gold bars/coins/findings at 724 per kilogram or 687 per 10 grams as applicable, all unchanged. TABLE-3 fixes Areca Nuts (tariff item 080280) at 6259 per metric tonne, unchanged. The notification [F. No. 467/01/2024-Cus.V] is signed by Radhe Krishna, Under Secretary, and notes the principal notification was last amended by Notification No. 16/2024-Customs (N.T.) dated 29th February 2024 (S.O. 986(E)).

Full Text

CG-DL-E-06032024-252679 EXTRAORDINARY PART II—Section 3—Sub-section (ii) 1613 GI/2024 (1) MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 6th March, 2024 No. 17/2024-CUSTOMS (N.T.) S.O. 1117(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, 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 | 891(i.e., no change) | | 2 | 1511 90 10 | RBD Palm Oil | 902 (i.e., no change) | | 3 | 1511 90 90 | Others – Palm Oil | 897 (i.e., no change) | |---|---|---|---| | 4 | 1511 10 00 | Crude Palmolein | 907 (i.e., no change) | | 5 | 1511 90 20 | RBD Palmolein | 910 (i.e., no change) | | 6 | 1511 90 90 | Others – Palmolein | 909 (i.e., no change) | | 7 | 1507 10 00 | Crude Soya bean Oil | 903 (i.e., no change) | | 8 | 7404 00 22 | Brass Scrap (all grades) | 4937 (i.e., no change) | | 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 | 687 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 | 724 per kilogram (i.e., no change) | | 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. | 724 per kilogram (i.e., no change) | | 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. | 687 per 10 grams | | Sl. No. | Chapter/ heading/ sub- heading/tariff item | Description of goods | Tariff value (US $ Per Metric Ton) | |---|---|---|---| | (1) | (2) | (3) | (4) | | 1 | 080280 | Areca nuts | 6259 (i.e., no change)” | 2. This notification shall come into force with effect from the 07th day of March, 2024. [F. No. 467/01/2024-Cus.V] RADHE KRISHNA, 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. 16/2024-Customs (N.T.), dated the 29th February, 2024 e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O. 986 (E), dated 29th February, 2024. and Published by the Controller of Publications, Delhi-110054. MANOJ KUMAR KUMAR VERMA Date: 2024.03.06 22:49:00 +05'30' VERMA

Never miss important gazettes

Create a free account to save gazettes, add notes, and get email alerts for keywords you care about.

Sign Up Free