Edible Oil Import rates see a jump of $50 per MT from last month

Nov 28: 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 itemDescription of goodsTariff value(US $Per Metric Tonne)
(1)(2)(3)(4)
11511 10 00Crude Palm Oil904
21511 90 10RBD Palm Oil925
31511 90 90Others – Palm Oil915
41511 10 00Crude Palmolein931
51511 90 20RBD Palmolein934
61511 90 90Others – Palmolein933
71507 10 00Crude Soya bean Oil1067
87404 00 22Brass Scrap (all grades)4123
91207 91 00Poppy seeds3623

TABLE-2

Sl. No.Chapter/ heading/ sub-heading/tariff itemDescription of goodsTariff value(US $)
(1)(2)(3)(4)
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 availed582 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 availed753 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.753 per kilogram
4.71(i) Gold   bars, other   than   tola   bars,bearingmanufacturer’s or refiner’s engraved serial number and weight expressed in metric units;(ii)Gold coins having gold content not below99.5% 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 suchas hook, clasp, clamp, pin, catch, screwbackused to hold the whole or a part of a piece of Jewellery in place.582 per 10 grams

TABLE-3

Sl. No.Chapter/ heading/ sub-heading/tariff itemDescription of goodsTariff value(US $ Per Metric Tonne)
(1)(2)(3)(4)
1080280Areca nuts3709”

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 numberS. O. 748 (E), dated the 3rd August 2001 and was last amended vide Notification No. 107/2020-Customs (N.T.), dated the 13th November 2020, e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide numberS.O.4092 (E), dated 13th November 2020.

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

 

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