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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi Notification No. 69/2021-CUSTOMS (N.T.) Dated: 31st August, 2021 S.O. 3559(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
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FAQ :
This notification updates the fixed tariff values for edible oils, brass scrap, areca nut, gold, and silver, as required by the Customs Act, 1962.
The revised tariff values will be effective from the 1st of September, 2021.
The notification specifies tariff values for Crude Palm Oil, RBD Palm Oil, other Palm Oils, Crude Palmolein, RBD Palmolein, and Crude Soya bean Oil.
The tariff value for gold is set at US $579 per 10 grams, and for silver, it is US $765 per kilogram, with specific conditions for certain forms and benefits availed.
Yes, the notification sets a new tariff value for Brass Scrap (all grades) at US $5351 per Metric Tonne.
The tariff value for areca nuts has been fixed at US $5149 per Metric Tonne.
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Source : https://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2021/cs-nt2021/csnt69-2021.pdf