15 Feb: Central Board of Indirect Taxes & Customs (CBIC) released the new rates for purchase of Edible Oils, Precious Metals and Areca Nuts w.e.f 15th Feb 2021 and as per the gazette, 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
1045
2
1511 90 10
RBD Palm Oil
1070
3
1511 90 90
Others – Palm Oil
1058
4
1511 10 00
Crude Palmolein
1076
5
1511 90 20
RBD Palmolein
1079
6
1511 90 90
Others – Palmolein
1078
7
1507 10 00
Crude Soya bean Oil
1103
8
7404 00 22
Brass Scrap (all grades)
4610
9
1207 91 00
Poppy seeds
3623
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
585 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
872 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.
872 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.
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