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Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 42/2021-Customs (N.T.) New Delhi, 15thApril, 2021 25 Chaitra, 1943 (SAKA) S.O. 1628(E).-In exercise of the powers conferred by sub-section (2) of section 14 of
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FAQ :
The purpose of this notification is to amend the existing Customs tariff values for certain goods by substituting the relevant tables in the principal notification No. 36/2001-Customs (N.T.).
The notification updates tariff values for Crude Palm Oil, RBD Palm Oil, Crude Soya bean Oil, Brass Scrap, Gold, Silver, and Areca nuts.
These tariff value changes are effective from 15th April, 2021.
The principal notification that was amended is Notification No. 36/2001-Customs (N.T.), dated 3rd August, 2001, published vide S. O. 748 (E).
Yes, for Gold and Silver, the tariff values are applicable when certain benefits from previous notifications (like 50/2017-Customs) are availed, and there are specific definitions and exclusions for what constitutes 'gold' and 'silver' in this context.
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Notification No : 42/2021-CUSTOMS (N.T.)Published in Custom
Source : https://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2021/cs-nt2021/csnt42-2021.pdf