Date: 2017-07-31Category: Extra OrdinaryState: Union GovernmentCountry: India
Central Board of Excise Customs being satisfied that it is necessary and expedient so to do hereby makes the following amendment in the notification of the Government
Executive Summary:
This notification, issued by the Central Board of Excise and Customs, amends Notification No. 36/2001-Customs (N.T.) dated August 3, 2001, regarding tariff values. It substitutes new tables specifying tariff values for various goods, including palm oil, palmolein, soyabean oil, brass scrap, poppy seeds, gold, silver and areca nuts. The notification is effective from July 31, 2017.
Key Points / Main Content:
* **Amendment of Notification:**
* Notification No. 36/2001-Customs (N.T.) is amended.
* **Substitution of Tables:**
* TABLE 1, TABLE 2, and TABLE 3 are replaced with updated tariff values.
* **TABLE 1: Tariff Values for Oils and Scrap (USD per Metric Tonne):**
* Crude Palm Oil: 678
* RBD Palm Oil: 697
* Others Palm Oil: 688
* Crude Palmolein: 705
* RBD Palmolein: 708
* Others Palmolein: 707
* Crude Soyabean Oil: 820
* Brass Scrap (all grades): 3369
* Poppy seeds: 2418
* **TABLE 2: Tariff Values for Gold and Silver:**
* Gold: 411 per 10 grams (benefit availed under Notification No. 50/2017-Customs dated 30.06.2017)
* Silver: 538 per kilogram (benefit availed under Notification No. 50/2017-Customs dated 30.06.2017)
* **TABLE 3: Tariff Values for Areca Nuts:**
* Areca nuts: 3320 USD per Metric Tonne
Impact Analysis:
* **Importers/Exporters:**
* Impact: Changes in tariff values will affect the cost of importing/exporting goods listed in the tables.
* Action Required: Need to assess the impact of revised tariff values on import/export costs and adjust pricing strategies accordingly.
* **Customs Authorities:**
* Impact: Required to implement the new tariff values for assessment and collection of customs duties.
* Action Required: Update systems and procedures to reflect the changes in tariff values as specified in the notification.
Key Entities Referenced
Customs Act, 1962: A legal act that provides the framework for levying and collecting customs duties in India.
Central Board of Excise and Customs: A government agency responsible for the formulation of policy concerning levy and collection of customs duties, central excise duties, and service tax.
Ministry of Finance, Department of Revenue: The department within the Ministry of Finance responsible for revenue collection and tax administration.
New Delhi: The location of the notification, likely referring to the office of the issuing authority in New Delhi, Delhi.
Notification No. 362001Customs N.T.: A specific notification related to customs, issued on August 3, 2001, which is being amended by this current notification.
Gazette of India: The official government gazette of India, in which government notifications, rules, and regulations are published.
Notification No. 502017Customs: A customs notification dated June 30, 2017, which is referenced in the context of tariff values for gold and silver.
Notification No. 712017Customs N.T.: A customs notification dated July 14, 2017, which was amended before this current notification.
REGD. NO. D. L.-33004/99
EXTRAORDINARY
II— — (ii)
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
2120]
No. 2120] NEW DELHI, MONDAY, JULY 31, 2017/SRAVANA 9, 1939
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4615 GI/2017 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
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[फरालटमतट467/1/2017-मींरालल्क–V]
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MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF EXCISE AND CUSTOMS)
NOTIFICATION
New Delhi, the 31st July, 2017
No. 74/2017-CUSTOMS (N.T.)
S.O. 2416(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 & 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:-
“TABLE-1
Tariff value
Chapter/ heading/ sub-
Sl. No. Description of goods (US $Per Metric
heading/tariff item
Tonne)
(1) (2) (3) (4)
1 1511 10 00 Crude Palm Oil 678
2 1511 90 10 RBD Palm Oil 697
3 1511 90 90 Others – Palm Oil 688
4 1511 10 00 Crude Palmolein 705
5 1511 90 20 RBD Palmolein 708
6 1511 90 90 Others – Palmolein 707
7 1507 10 00 Crude Soyabean Oil 820
8 7404 00 22 Brass Scrap (all grades) 3369
9 1207 91 00 Poppy seeds 2418
TABLE-2
Sl. Chapter/ heading/ sub- Description of goods Tariff value
No. heading/tariff item (US $)
(1) (2) (3) (4)
1 Gold, in any form, in respect of which the benefit of
entries at serial number 356 and 358 of the
71 or 98 411 per 10 grams
Notification No. 50/2017-Customs dated 30.06.2017
is availed
2 Silver, in any form, in respect of which the benefit of
entries at serial number 357 and 359 of the
71 or 98 538 per kilogram
Notification No. 50/2017-Customs dated 30.06.2017
is availed4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
TABLE-3
Sl. Chapter/ heading/ sub- Description of goods Tariff value
No. heading/tariff item (US $ Per Metric Tonne )
(1) (2) (3) (4)
1 080280 Areca nuts 3320”
[F. No. 467/01/2017 -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. 71/2017-Customs (N.T.),
dated the 14th July, 2017, e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii),
vide number S. O. 2220(E), dated 14th July, 2017.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.