Home India Ministry of Finance Central Board of Excise and Customs, being satisfied that it...
Date: 2014-04-15 Category: Extra Ordinary State: Union Government Country: India

Central Board of Excise and Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment 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

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

**Executive Summary:** This notification from the Central Board of Excise and Customs amends Notification No. 36/2001-Customs N.T. dated August 3, 2001, by substituting new tables specifying tariff values for various goods. The notification is issued under the powers conferred by subsection 2 of Section 14 of the Customs Act, 1962. It takes effect on April 15, 2014. **Key Points / Main Content:** * **Amendment Details:** * Replaces Table 1, Table 2, and Table 3 of Notification No. 36/2001-Customs N.T. with updated tables. * **Table 1: Tariff Values for various goods (Per Metric Tonne)** * Crude Palm Oil: US$935 * RBD Palm Oil: US$964 * Others Palm Oil: US$950 * Crude Palmolein: US$979 * RBD Palmolein: US$982 * Others Palmolein: US$981 * Crude Soyabean Oil: US$961 * Brass Scrap (all grades): US$3893 * Poppy Seeds: US$3473 * **Table 2: Tariff Values for Gold and Silver** * Gold (benefit of Notification No. 12/2012-Customs, dated 17/3/2012 is availed): US$431 per 10 grams * Silver (benefit of Notification No. 12/2012-Customs, dated 17/3/2012 is availed): US$646 per kilogram * **Table 3: Tariff Values for Areca nuts** * Areca nuts: US$1908 per Metric Ton **Impact Analysis:** * **Importers:** * *Impact:* Changes in tariff values will affect the cost of importing goods such as palm oil, palmolein, soybean oil, brass scrap, poppy seeds, gold, silver, and areca nuts. * *Action Required:* Importers need to review the new tariff values and adjust their import costs and strategies accordingly. * **Customs Officials:** * *Impact:* Required to use the updated tariff values for assessment and collection of customs duties. * *Action Required:* Implement the new tariff values as specified in the amended notification for all relevant imports. * **Central Board of Excise and Customs:** * *Impact:* Responsible for monitoring the implementation and impact of the amended tariff values. * *Action Required:* Ensure that the updated tariff values are correctly applied and that any issues arising from the changes are addressed promptly.

Key Entities Referenced

Central Board of Excise and Customs: A government organization responsible for the administration of excise and customs duties. Customs Act, 1962: An act of parliament of India to consolidate and amend the law relating to customs. New Delhi: The capital city of India, where the notification was issued. Ministry of Finance, Department of Revenue: The government ministry responsible for revenue collection and financial regulation. Notification No. 36/2001-Customs N.T.: A previous notification related to customs, which is being amended by this notification. Crude Palm Oil: A commodity whose tariff value is being revised in the notification. Gold: A precious metal whose tariff value is being revised in the notification. Areca nuts: A commodity whose tariff value is being revised in the notification.
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S.O. 1090(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 Excise and Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment 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 :—¹Hkkx II—[kMa 3(ii)] Hkkjr dk jkti=k % vlk/kj.k 3 “TABLE-1 Sl. No. Chapter/heading/sub- Description of goods Tariff value US $ heading/tariff item (Per Metric Tonne) (1) (2) (3) (4) 1. 1511 10 00 Crude Palm Oil 935 2. 1511 90 10 RBD Palm Oil 964 3. 1511 90 90 Others—Palm Oil 950 4. 1511 10 00 Crude Palmolein 979 5. 1511 90 20 RBD Palmolein 982 6. 1511 90 90 Others—Palmolein 981 7. 1507 10 00 Crude Soyabean Oil 961 8. 7404 00 22 Brass Scrap (all grades) 3893 9. 1207 91 00 Poppy Seeds 3473 TABLE-2 Sl. No. Chapter/heading/sub- Description of goods Tariff value heading/tariff item (US $) (1) (2) (3) (4) 1. 71 or 98 Gold, in any form, in respect of which the benefit of 431 per 10 grams entries at serial numbers 321 and 323 of the Notification No. 12/2012-Customs, dated 17-3-2012 is availed 2. 71 or 98 Silver, in any form, in respect of which the benefit of 646 per kilogram entries at serial numbers 322 and 324 of the Notification No. 12/2012-Customs, dated 17-3-2012 is availed TABLE-3 Sl. No. Chapter/heading/sub- Description of goods Tariff value heading/tariff item (US $ per Metric Tons) (1) (2) (3) (4) 1. 080280 Areca nuts 1908 ” [F. No. 467/01/2014-Cus.- V] SATYAJIT MOHANTY, Director (ICD) 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. 25/2014-Customs (N.T.), dated the 31st March, 2014, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), vide number S.O. 980(E), dated the 31st March, 2014. Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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