The Central Board of Excise and Customs (CBEC), Department of Revenue, Ministry of Finance has issued a Notification No. 48/2012-CUSTOMS (N.T.) dated June 07, 2012 and thereby notifying change in tariff value of Gold.           

Notification No. 48/2012-Customs (N.T.)

New Delhi, 7th of June, 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 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 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)

4270(i.e. no change)

9

1207 91 00

Poppy seeds

3896(i.e. no change)

TABLE-2

S. No.

Chapter/ heading/ sub-heading/tariff item

Description of goods

Tariff value

(US $)

(1)

(2)

(3)

(4)

1

71 or 98

Gold, in any form, in respect of which the benefit of entries at serial number 321 and 323 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed

531 per 10 grams

2

71 or 98

Silver, in any form, in respect of which the benefit of entries at serial number 322 and 324 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed

899 per kilogram

(i.e. no change)”

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

(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 3rd August, 2001, vide number S. O. 748 (E), dated the 3rd August, 2001 and was last amended vide Notification No. 47/2012-Customs (N.T.), dated the 31st May, 2012, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number  S. O. 1256 (E) dated, the 31st May, 2012.

 

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