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 itemDescription of goodsTariff value(US $Per Metric Tonne)
11511 10 00Crude Palm Oil1131
21511 90 10RBD Palm Oil1156
31511 90 90Others – Palm Oil1144
41511 10 00Crude Palmolein1162
51511 90 20RBD Palmolein1165
61511 90 90Others – Palmolein1164
71507 10 00Crude Soya bean Oil1302
87404 00 22Brass Scrap (all grades)5185
Sl. No.Chapter/ heading/ sub-heading/tariff itemDescription of goodsTariff value(US $)
1.71 or 98Gold, 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 availed542 per 10 grams
2.71 or 98Silver, 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 availed784 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 itemDescription of goodsTariff value(US $ Per Metric Tonne)
1080280Areca nuts4284”
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