Tariff Value increased for Gold, Silver, Brass Scrap and Poppy Seeds

Notification No. 10/2012–Customs (N.T.) – Government has increased the tariff values of Brass Scrap (all grades) from USD 4007 to USD 4078 and changed the tariff value of poppy seeds from USD 1970 to 2205.The Tariff Value of Gold is increased from 526 to 556 USD per 10 grams and the tariff value of silver is increased from 953 to 1067 per kilogram. Tariff value was fixed for gold and silver only last month by Notification No. 2/2012-Cus(NT) dated 13th January 2012. There is no change in the tariff value of other items.

Amends Notification No. 36/2001-Customs(N.T) dated 3rd August 2001

Notification No. 10/2012 – Customs (N. T.)

New Delhi, 31^st January, 2012

S.O. (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 Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.) dated, the 3^rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii) vide number S. O. 748 (E), dated the 3^rd August, 2001, namely:-

In the said notification, for TABLE-1 and TABLE-2, the following Tables shall be substituted namely:-

“TABLE-1

S. 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	447 (i.e. no change)
2	1511 90 10	RBD Palm Oil	476 (i.e. no change)
3	1511 90 90	Others – Palm Oil	462 (i.e. no change)
4	1511 10 00	Crude Palmolein	481 (i.e. no change)
5	1511 90 20	RBD Palmolein	484 (i.e. no change)
6	1511 90 90	Others – Palmolein	483 (i.e. no change)
7	1507 10 00	Crude Soyabean Oil	580 (i.e. no change)
8	7404 00 22	Brass Scrap (all grades)	4078
9	1207 91 00	Poppy seeds	2205

TABLE-2

S. No.	Chapter/ heading/ sub-heading/tariff item	Description of goods	Tariff value (US $)
(1)	(2)	(3)	(4)
1	71	Gold, in any form in respect of which the benefit of Notification No. 3/2012-Customs dated 16.01.2012 is availed	556 per 10 grams
2	71	Silver, in any form in respect of which the benefit of Notification No. 3/2012-Customs dated 16.01.2012 is availed	1067 per kilogram”

[F. No. 467/01/2012-Cus.V]

(Abhinav Gupta)

Under Secretary to the Government of India

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 3^rd August, 2001, vide number S. O. 748 (E), dated, the 3^rd August, 2001 and was last amended vide Notification No. 4/2012-Customs (N.T.) dated, the 17^th January, 2012, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O. 81 (E) dated, the 17^th January, 2012.