Tariff Notification No. 66/2021-Cus (N.T.) dated 11.08.2021 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver - Reg


Quick Summary
This notification from the Central Board of Indirect Taxes & Customs, dated 11th August 2021, announces amendments to the tariff values for several key commodities. These include edible oils like palm oil and soya bean oil, brass scrap, areca nuts, gold, and silver. The updated tariff values are effective from 12th August 2021.

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

Notification No. 66/2021-Customs (N.T.)

Dated: 11th August, 2021

S.O. 3243(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 Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated the 3rd 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 1029 (i.e., no change)
2 1511 90 10 RBD Palm Oil 1055 (i.e., no change)
3 1511 90 90 Others – Palm Oil 1042 (i.e., no change)
4 1511 10 00 Crude Palmolein 1061 (i.e., no change)
5 1511 90 20 RBD Palmolein 1064 ((i.e., no change)
6 1511 90 90 Others – Palmolein 1063 (i.e., no change)
7 1507 10 00 Crude Soya bean Oil 1228 (i.e., no change)
8 7404 00 22 Brass Scrap (all grades) 5554 (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 555 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 824 per kilogram
(i.e., no change)
3. 71 (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; 824 per kilogram
(i.e., no change)
    (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.

 
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.

555 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 4904″ (i.e., no change)

2. This notification shall come into force with effect from the 12th day of August, 2021.

[F. No. 467/01/2021-Cus-V]

BULLO MAMU, Under 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. 63/2021-Customs (N.T.), dated the 30th July, 2021, e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O. 3068 (E), dated 30th July, 2021.

FAQ :

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

The notification covers edible oils (Crude Palm Oil, RBD Palm Oil, Crude Soya bean Oil), Brass Scrap, Areca Nuts, Gold, and Silver.

This notification comes into force on the 12th day of August, 2021.

Yes, the notification specifies tariff values for various edible oils, including Crude Palm Oil, RBD Palm Oil, and Crude Soya bean Oil.

The tariff value for gold is US$ 555 per 10 grams, and for silver, it is US$ 824 per kilogram, with specific conditions mentioned for different forms.

This notification amends Notification No. 36/2001-Customs (N.T.), dated 3rd August 2001.

 

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