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Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver with effect from the 07th day of March, 2024 notified by CBIC vide Notification No. 17/2024-CUSTOMS (N.T.) | Dated: 6th March, 2024.

The notification substitutes Tables 1, 2, and 3 of the previous notification (No. 36/2001-Customs (N.T.)) with revised versions. Notable changes include adjustments in tariff values for various goods, such as crude palm oil, RBD palm oil, crude palmolein, and others. Additionally, amendments affect the tariff values of gold, silver, and areca nuts. The updated tariff values aim to reflect current market conditions and regulatory requirements.

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)

Notification No. 17/2024-CUSTOMS (N.T.) | Dated: 6th March, 2024

S.O. 1117(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 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 item Description of goods Tariff value

(US $Per Metric Tonne)

(1) (2) (3) (4)
1 1511 10 00 Crude Palm Oil 891(i.e., no change)
2 1511 90 10 RBD Palm Oil 902 (i.e., no change)
3 1511 90 90 Others – Palm Oil 897 (i.e., no change)
4 1511 10 00 Crude Palmolein 907 (i.e., no change)
5 1511 90 20 RBD Palmolein 910 (i.e., no change)
6 1511 90 90 Others – Palmolein 909 (i.e., no change)
7 1507 10 00 Crude Soya bean Oil 903 (i.e., no change)
8 7404 00 22 Brass Scrap (all grades) 4937 (i.e., no change)

TABLE-2

Sl. 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 356 of the Notification No. 50/2017-Customs dated 30.06.2017 is availed 687 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 724 per kilogram
(i.e., no change)
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 sub­heading 7106 92;

(ii)  Medallions and silver coins having silver content 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 foreign currency coins, jewellery made of silver or articles made of silver.

724 per kilogram
(i.e., no change)
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.

687 per 10 grams

TABLE-3

Sl. No. Chapter/ heading/ sub-heading/tariff item Description of goods Tariff value

(US $ Per Metric Ton)

(1) (2) (3) (4)
1 080280 Areca nuts 6259 (i.e., no change)”

2. This notification shall come into force with effect from the 07th day of March, 2024.

[F. No. 467/01/2024-Cus.V]

RADHE KRISHNA, Under Secy.

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. 16/2024-Customs (N.T.), dated the 29th February, 2024 e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O. 986 (E), dated 29th February, 2024.

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