Quick Summary
Tariff Notification No. 117/2020-Customs (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver 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 (Departmen
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1 Year PLAN
1999
(Excl. of GST ₹359)
2 Years PLAN
3499
(Excl. of GST ₹629)
BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)
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FAQ :
The notification is to amend the existing rules for fixing the tariff value of certain goods, specifically edible oils, brass scrap, poppy seeds, areca nut, gold, and silver.
The tariff values for Crude Palm Oil, RBD Palm Oil, other Palm Oils, Crude Palmolein, RBD Palmolein, other Palmoleins, and Crude Soya bean Oil have been updated.
Yes, the tariff value for Brass Scrap (all grades) has been updated. Additionally, revised tariff values for gold and silver in various forms have been published.
The new tariff value for Areca nuts is US $3695 per Metric Tonne.
For gold, the tariff value is US $607 per 10 grams, and for silver, it is US $848 per kilogram, with specific conditions applying to certain forms and import methods.
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