Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Last updated: 03 January 2022
Quick Summary
This notification from the Central Board of Indirect Taxes & Customs announces amendments to the tariff values for several key commodities. These changes affect edible oils like palm oil and soya bean oil, brass scrap, areca nuts, and precious metals including gold and silver. The updated tariff values are effective from January 1, 2022.

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi Notification No. 107/2120-CUSTOMS (N.T.) Dated: 31st December, 2021 S.O. 5496(E). -In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 196
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FAQ :

This notification amends the tariff values for specific goods, including edible oils, brass scrap, areca nut, gold, and silver, as per Section 14(2) of the Customs Act, 1962.

The revised tariff values will be effective from the 1st day of January, 2022.

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 values for gold are US $581 per 10 grams, and for silver, they are US $735 per kilogram, with specific conditions for different forms and benefits availed.

Yes, the notification updates the tariff value for areca nuts to US $4937 per Metric Tonne.

 
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