Fixation of Tariff Value of Edible Oils, Metals and Nuts

Sep 30: Central Board of Indirect Taxes & Customs has made the following amendments in regards to the fixation of tariff value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver. The new rates for Imports and Exports 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	762
2	1511 90 10	RBD Palm Oil	795
3	1511 90 90	Others – Palm Oil	779
4	1511 10 00	Crude Palmolein	802
5	1511 90 20	RBD Palmolein	805
6	1511 90 90	Others – Palmolein	804
7	1507 10 00	Crude Soya bean Oil	909
8	7404 00 22	Brass Scrap (all grades)	3911
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	607 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	768 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.	768 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.	607 per 10 grams

Sl. No.	Chapter/ heading/ sub-heading/tariff item	Description of goods	Tariff value(US $ Per Metric Tonne)
1	080280	Areca nuts	3720”

Come and Participate in the upcoming 24th Anniversary event of GLOBOIL, a much-awaited event in the Edible Oil and Agri Trade Industry which is being held on 30th October 2020 to 1st November 2020 at Taj, Goa. The hybrid event will have both Physical and Virtual Presence. For Event Participation, Tickets and other details