CBIC has issued a new notification amending the previous one and providing tariff values for various goods, including edible oils, brass scrap, areca nut, gold, and silver, effective from April 29, 2023.
The Central Board of Indirect Taxes & Customs(CBIC ) has issued Tariff Notification No. 32/2023 – Customs (N.T.), which replaces the previous notification and provides tariff values for various goods.
1. Introduction The Central Board of Indirect Taxes & Customs (CBIC ) has issued Tariff Notification No. 32/2023 – Customs (N.T.) that amends the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.) dated August 3, 2001.
2. Amendments in the Notification The notification replaces TABLE-1, TABLE-2, and TABLE-3 in the previous notification with new Tables that provide tariff value for various goods.
3. Tariff Values for Edible Oils The new TABLE-1 specifies tariff value in US dollars per metric tonne for various edible oils, including crude palm oil, RBD palm oil, and crude soya bean oil.
4. Tariff Values for Brass Scrap and Areca Nut The new TABLE-1 also provides the tariff value for brass scrap (all grades) and areca nut in US dollars per metric tonne.
5. Tariff Values for Gold and Silver The new TABLE-2 specifies tariff value in US dollars for gold and silver in different forms. The tariff value for gold bars, other than tola bars, bearing the manufacturer’s or refiner’s engraved serial number and weight expressed in metric units, and gold coins having gold content not below 99.5% and gold findings is 639 per 10 grams. The tariff value for other forms of gold and silver is 815 per kilogram.
“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 | 1001 |
| 2 | 1511 90 10 | RBD Palm Oil | 1022 |
| 3 | 1511 90 90 | Others – Palm Oil | 1012 |
| 4 | 1511 10 00 | Crude Palmolein | 1041 |
| 5 | 1511 90 20 | RBD Palmolein | 1044 |
| 6 | 1511 90 90 | Others – Palmolein | 1043 |
| 7 | 1507 10 00 | Crude Soya bean Oil | 1024 |
| 8 | 7404 00 22 | Brass Scrap (all grades) | 5154 |
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 | 639 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 | 815 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. | 815 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. | 639 per 10 grams |
TABLE-3
| Sl. No. | Chapter/ heading/ sub-heading/tariff item | Description of goods | Tariff value(US $ Per Metric Tonne) |
| (1) | (2) | (3) | (4) |
| 1 | 080280 | Areca nuts | 10379 (i.e., no change)” |
6. Effective Date This notification will come into effect from April 29, 2023.
Note: The principal notification was issued on August 3, 2001, vide Notification No. 36/2001-Customs (N.T.), and its details are available in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated August 3, 2001.
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