Tariff Notification No. 62/2020-Customs (N.T.), Dated: 27.07.2020

Last updated: 29 July 2020

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This notification from the Central Board of Indirect Taxes & Customs (CBIC) updates the tariff values for several key commodities. These changes affect edible oils like palm oil and soybean oil, as well as brass scrap, poppy seeds, and areca nuts. It also specifies the tariff values for gold and silver in various forms. The amendments are made under Section 14(2) of the Customs Act, 1962, and supersede previous tables in the principal notification dated 3rd August 2001.

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

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)

Notification No. 62/2020-Customs (N.T.)

New Delhi, the 27th July, 2020

S.O. 2448(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 so to do, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3^rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated the 3^rd August, 2001, namely:-

In the said notification, for TABLE-1, TABLE-2, and TABLE-3 the following Tables shall be substituted, namely: –

TABLE-1

Sl. No.	Chapter/ heading/ sub- heading/tariff item	Description of goods	Tariff value (US $Per Metric Tonne)
(1)	(2)	(3)	(4)
1	1511 10 00	Crude Palm Oil	622 (i.e. no change)
2	1511 90 10	RBD Palm Oil	641 (i.e. no change)
3	1511 90 90	Others – Palm Oil	632 (i.e. no change)
4	1511 10 00	Crude Palmolein	647 (i.e. no change)
5	1511 90 20	RBD Palmolein	650 (i.e. no change)
6	1511 90 90	Others – Palmolein	649 (i.e. no change)
7	1507 10 00	Crude Soya bean Oil	747 (i.e. no change)
8	7404 00 22	Brass Scrap (all grades)	3561 (i.e. no change)
9	1207 91 00	Poppy seeds	3623 (i.e. no change)

TABLE-2

Sl. No.	Chapter/ heading/ sub- heading/tariff item	Description of goods	Tariff value (US $)
(1)	(2)	(3)	(4)
1.	71 or 98	Gold, in any form, in respect of which the benefit of entries at serial number 356 of the Notification No. 50/2017-Customs dated 30.06.2017 is availed	612 per 10 grams
2.	71 or 98	Silver, in any form, in respect of which the benefit of entries at serial number 357 of the Notification No. 50/2017-Customs dated 30.06.2017 is availed	717 per kilogram (i.e. no change)
3.		(i) Silver, in any form, other than medallions and silver coins having silver content not below 99.9% or semi-manufactured forms of silver falling under sub-heading 7106 92; (ii) Medallions and silver coins having silver content not below 99.9% or semi-manufactured forms of silver falling under sub-heading 7106 92, other than imports of such goods through post, courier or baggage. Explanation. – For the purposes of this entry, silver in any form shall not include foreign currency coins, jewellery made of silver or articles made of silver.	717 per kilogram (i.e. no change)

	71

4.	71	(i) Gold bars, other than tola bars, bearing manufacturer’s or refiner’s engraved serial number and weight expressed in metric units; (ii) Gold coins having gold content not below 99.5% and gold findings, other than imports of such goods through post, courier or baggage. Explanation. – For the purposes of this entry, “gold findings” means a small component such as hook, clasp, clamp, pin, catch, screw back used to hold the whole or a part of a piece of Jewellery in place.	612 per 10 grams

TABLE-3

Sl. No.	Chapter/ heading/ sub- heading/tariff item	Description of goods	Tariff value (US $ Per Metric Tonne)
(1)	(2)	(3)	(4)
1	080280	Areca nuts	3746 (i.e. no change)”

[F. No. 467/01/2020 -Cus-V]
RATHAKRISHNAN ANANTH, Dy. Secy.

Note: – The principal notification was published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide Notification No. 36/2001–Customs (N.T.), dated the 3rd August, 2001, vide number S. O. 748 (E), dated the 3rd August, 2001 and was last amended vide Notification No. 60/2020-Customs (N.T.), dated the 23rd July, 2020, e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O. 2423 (E), dated 23rd July, 2020.

FAQ :

The purpose of this notification is to amend the tariff values for specific goods, including edible oils, brass scrap, poppy seeds, areca nuts, gold, and silver.

The notification covers crude palm oil, RBD palm oil, other palm oils, crude palmolein, RBD palmolein, other palmoleins, and crude soybean oil.

The tariff value for gold is US$ 612 per 10 grams, and for silver, it is US$ 717 per kilogram. These values apply to specific forms and conditions as detailed in the notification.

The tariff value for brass scrap (all grades) has been fixed at US$ 3561 per metric tonne.

The tariff value for areca nuts is US$ 3746 per metric tonne.

These tariff values are being fixed in exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962.

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Notification No : Notification No. 62/2020-Customs (N.T.)
Published in Custom
Source : https://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2020/cs-nt2020/csnt62-2020.pdf

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