Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seed, Areca nut, Gold & Silver - reg.

Last updated: 02 January 2021

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This notification from the Ministry of Finance updates the tariff values for several key commodities. It specifically amends existing tables to reflect new values for edible oils like palm oil and soya bean oil, brass scrap, poppy seeds, and areca nuts. Additionally, it sets new tariff values for gold and silver in various forms, including specific conditions for their application.

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) New Delhi, the 31st December, 2020 Notification No. 117/2020-CUSTOMS (N.T.) S.O. 4793(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 Min

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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 :

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

The notification includes updated tariff values for Crude Palm Oil, RBD Palm Oil, other Palm Oils, Crude Palmolein, other Palmoleins, and Crude Soya bean Oil.

New tariff values are set for gold and silver in various forms, with specific rates per 10 grams for gold and per kilogram for silver, depending on their form and purity.

The notification specifies conditions for gold and silver, for example, certain forms of gold and silver imports are subject to specific tariff values, and exclusions may apply for imports via post, courier, or baggage.

The tariff value for Brass Scrap (all grades) is set at US $4550 per Metric Tonne.

This notification was issued in New Delhi on the 31st December, 2020.

Notification No : 117/2020-CUSTOMS (N.T.)
Source : https://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2020/cs-nt2020/csnt117-2020.pdf;jsessionid=51019C3331F412AFD5A4C10E53B2DF83

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