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Date: 31-May-2023 Category: Extra Ordinary State: Union Government Country: India

Customs Notification No.38/2023

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

What it means

  • The notification No.38/2023-Customs (N.T.) issued by the Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes and Customs, amends Notification No. 36/2001-Customs (N.T.) dated August 3, 2001. This amendment revises tariff values for various goods, including palm oil, palmolein, soybean oil, brass scrap, gold, silver and areca nuts.

Key Changes

  • The notification substitutes TABLE-1, TABLE-2, and TABLE-3 of the original notification with updated tables specifying revised tariff values.
  • Crude Palm Oil tariff value is set at $898 per metric ton.
  • RBD Palm Oil tariff value is set at $984 per metric ton.
  • Other Palm Oil tariff value is set at $941 per metric ton.
  • Crude Palmolein tariff value is set at $994 per metric ton.
  • RBD Palmolein tariff value is set at $997 per metric ton.
  • Other Palmolein tariff value is set at $996 per metric ton.
  • Crude Soybean Oil tariff value is set at $976 per metric ton.
  • Brass Scrap (all grades) tariff value is set at $4873 per metric ton.
  • Gold, in any form, where Notification No. 50/2017-Customs benefit is availed, is valued at $629 per 10 grams.
  • Silver, in any form, where Notification No. 50/2017-Customs benefit is availed, is valued at $754 per kilogram.
  • Silver (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) is valued at $754 per kilogram.
  • 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 through post, courier or baggage is valued at $754 per kilogram.
  • Gold bars (other than tola bars) with specific markings and gold coins having gold content not below 99.5% and gold findings, other than imports through post, courier or baggage is valued at $629 per 10 grams.
  • Areca nuts tariff value remains unchanged at $10379 per metric ton.
  • The notification is effective from June 1, 2023.

Impact Analysis

Importers

  • Importers should review existing contracts to assess the impact of these tariff changes on their profitability.

Exporters

  • Exporters dealing with products using imported raw materials like palm oil or soybean oil need to assess the impact on their production costs.

Consumers

  • Changes in gold and silver tariff values could affect the prices of jewelry and other related products.

Government Revenue

  • Increased tariff values on certain commodities may lead to higher revenue collection.

Action Items

  • Monitor the market for price fluctuations and adjust business strategies accordingly.

Key Entities Referenced

Central Board of Indirect Taxes and Customs (CBIC): The issuing authority responsible for setting and revising tariff values for imported goods. Ministry of Finance, Department of Revenue: The government body overseeing the CBIC and responsible for fiscal policy. Customs Act, 1962: The primary legislation governing customs duties and regulations in India. Section 14(2) provides the CBIC with the power to determine tariff values. Notification No. 36/2001-Customs (N.T.), dated August 3, 2001: The original notification being amended by this notification. It establishes the framework for tariff value determination. Notification No. 50/2017-Customs dated 30.06.2017: Notification providing benefits related to entries at serial number 356 and 357, which are relevant to gold and silver valuation.
Official Source Record View Original Source →
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रजजस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-31052023-246188 xxxGIDHxxx CG-DL-E-31052023-246188 xxxGIDExxx असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 2271] नई ददल्ली, बुधिार, मई 31, 2023/ज्य ष्े ठ 10, 1945 No. 2271] NEW DELHI, WEDNESDAY, MAY 31, 2023/JYAISHTHA 10, 1945 जित्त मत्रं ालय (राजस्ट्ि जिभाग) (केंद्रीय अप्रत्यक्ष कर एि ंसीमा िल्ु क बोडड) अजधसचू ना नई ददल्ली, 31 मई,2023 स.ं38/2023-सीमा िल्ु क (ग.ैटै.) का.आ. 2368(अ).—सीमा िुल्क अजधजनयम, 1962 (1962 का 52) की धारा 14 की उपधारा (2) द्वारा प्रदत् त िजियों का प्रयोग करत े हुए, केंद्रीय अप्रत्यक्ष कर एि ं सीमा िुल्क बोडड, इस बात स े संतुष्ट होने पर दक ऐसा करना आिश्यक एिं समीचीन ह,ै एतद्द्वारा, भारत सरकार, जित्त मंत्रालय (राजस्ट्ि जिभाग) की अजधसूचना स.ं 36/2001-सीमा िुल्क (ग.ैटै.), ददनांक 3 अगस्ट्त, 2001, जजसे का.आ. 748(अ), ददनांक 3 अगस्ट्त, 2001 के तहत भारत के राजपत्र, असाधारण के भाग II, खंड 3, उपखंड (ii) म ेंप्रकाजित दकया गया था, म ेंजनम्नजलजखत संिोधन करता ह,ै अथाडत:् - उक्त अजधसूचना म,ें सारणी-1, सारणी-2 और सारणी-3 के स्ट्थान पर जनम्नजलजखत सारजणयााँ प्रजतस्ट्थाजपत की जाएाँगी, अथाडत:् - "सारणी-1 क्रम. स.ं अध् याय/िीर्ड/उपिीर्ड/ टैररफ मूल् य माल का जििरण टैररफ मद (अमरीकी डालर प्रजत मीररक टन) (1) (2) (3) (4) 1 1511 10 00 कच्चा पॉम ऑयल 898 2 1511 90 10 आर बी डी पॉम ऑयल 984 3444 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] 3 1511 90 90 अन् य पॉम ऑयल 941 4 1511 10 00 कच्चा पामोजलन 994 5 1511 90 20 आर बी डी पामोलीन 997 6 1511 90 90 अन्य पामोलीन 996 7 1507 10 00 सोयाबीन का कच् चा तेल 976 8 7404 00 22 पीतल स्ट् क्रेप (सभी ग्रेड) 4873 सारणी-2 क्रम. स.ं अध् याय/िीर्ड/ उपिीर्/ड टैररफ मूल् य माल का जििरण टैररफ मद (अमरीकी डालर) (1) (2) (3) (4) 1 71 या 98 स्ट्िण,ड दकसी भी रूप में, जजसके सम्बन्ध म ेंअजधसूचना संख्या 50/2017-सीमा िुल्क, ददनांक 30.06.2017 की 629 प्रजत 10 ग्राम प्रजिजष्ट संख्या 356 के अंतगतड लाभ प्राप्त दकया गया हो 2 71 या 98 रजत, दकसी भी रूप म,ें जजसके सम्बन्ध म ें अजधसूचना संख्या 50/2017-सीमा िुल्क, ददनांक 30.06.2017 की 754 प्रजत दकलोग्राम प्रजिजष्ट संख्या 357 के अंतगतड लाभ प्राप्त दकया गया हो (i) रजत, पदकीय या रजत जसक्कों से जभन्न दकसी भी रूप में, जजसकी रजत अंतिडस्ट्तु 99.9 प्रजतित से कम नहीं ह ै या उपिीर् ड 7106 92 के अधीन आन े िाल े रजत के अध ड जिजनर्ममत प्ररूप; (ii) पदकीय या रजत जसक्के, जजसकी रजत अतं िडस्ट्तु 99.9 प्रजतित स े कम नहीं ह ै या डाक, कुररयर या सामान के 754 प्रजत दकलोग्राम माध्यम से ऐस े माल के आयात से जभन्न उपिीर् ड 7106 92 3 71 के अधीन आने िाल ेरजत के अधड जिजनर्ममत प्ररूप। स्ट्पष्टीकरण - इस प्रजिजष्ट के प्रयोजनों के जलए, दकसी भी प्ररूप म ें रजत के अंतगडत जिदेिी मुद्रा के जसक्के, रजत स े बन े आभूर्ण या रजत से बनी िस्ट्तएु ं नहीं ह।ैं (i) स्ट्िणड बार, तोला बार स े जभन्न, जजस पर जिजनमाडणकताड या ररयाइनर का खुदा हुआ क्रम संख्यांक और जमररक यूजनटों में भार अजभव्यि ह;ै (ii) स्ट्िणड जसक्के, जजसमें 99.5 प्रजतित से अन्यून स्ट्िण ड ह,ै और स्ट्िण ड प्राजप्तया,ं डाक, कुररयर या बैगेज के माध्यम स े 629 प्रजत 10 ग्राम ऐसे माल के आयात से जभन्न। 4 71 स्ट्पष्टीकरण - इस प्रजिजष्ट के प्रयोजन के जलए, "स्ट्िण ड प्राजप्तयां" से कोई छोटा संघटक, जैसे हुक, क्लास्ट्प, क्लैंप, जपन, कैच, स्ट्क्रू बैक, जजसका उपयोग पूण ड आभर्ू ण या उसके दकसी भाग को स्ट्थान म ें जोड़े रखन े के जलए दकया जाता ह,ै अजभप्रेत ह।ै[भाग II—खण् ड 3(ii)] भारत का राजपत्र : असाधारण 3 सारणी-3 क्रम. स.ं अध् याय/िीर्ड/ उपिीर्/ड टैररफ मूल् य टैररफ मद माल का जििरण (अमरीकी डालर प्रजत मीररक टन) (1) (2) (3) (4) 1 10379 (अथाडत कोई 080280 सुपारी पररितडन नहीं)” 2. यह अजधसूचना 01 जून, 2023 से प्रभािी होगी I [फा. स.ं 467/01/2023-सीमा िुल्क.V] हरीि कुमार, अिर सजचि नोट : मूल अजधसूचना भारत के राजपत्र, असाधारण के भाग-II, खंड-3, उपखंड (ii) में अजधसूचना सं. 36/2001- सीमा िुल् क (ग.ैटै.), ददनांक 3 अगस्ट्त, 2001, का.आ. 748 (अ), ददनांक 3 अगस्ट्त, 2001 के तहत प्रकाजित की गई थी, तथा यह अंजतम बार अजधसूचना सं. 34/2023-सीमािुल्क (ग.ैटै.), ददनांक 15 मई 2023, जजसे का.आ. 2182 (अ) ददनांक 15 मई 2023 के तहत भारत के राजपत्र, असाधारण के भाग-II, खंड-3, उपखंड (ii) में ई-प्रकाजित दकया गया था, के द्वारा संिोजधत की गई थीI MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 31st May, 2023 No.38/2320-CUSTOMS (N.T.) S.O. 2368(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 Chapter/ heading/ sub- Tariff value Sl. No. Description of goods heading/tariff item (US $Per Metric Tonne) (1) (2) (3) (4) 1 1511 10 00 Crude Palm Oil 898 2 1511 90 10 RBD Palm Oil 984 3 1511 90 90 Others – Palm Oil 941 4 1511 10 00 Crude Palmolein 994 5 1511 90 20 RBD Palmolein 997 6 1511 90 90 Others – Palmolein 996 7 1507 10 00 Crude Soya bean Oil 976 8 7404 00 22 Brass Scrap (all grades) 48734 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] TABLE-2 Sl. No. Chapter/ heading/ sub- Description of goods Tariff value heading/tariff item (US $) (1) (2) (3) (4) Gold, in any form, in respect of which the benefit of 1. 71 or 98 entries at serial number 356 of the Notification No. 629 per 10 grams 50/2017-Customs dated 30.06.2017 is availed Silver, in any form, in respect of which the benefit of 2. 71 or 98 entries at serial number 357 of the Notification No. 754 per kilogram 50/2017-Customs dated 30.06.2017 is availed (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 71 not below 99.9% or semi-manufactured forms of silver 754 per kilogram 3. 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. (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 4. 71 629 per 10 grams 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. TABLE-3 Sl. No. Chapter/ heading/ sub- Description of goods Tariff value heading/tariff item (US $ Per Metric Ton) (1) (2) (3) (4) 1 080280 Areca nuts 10379 (i.e., no change)‖ 2. This notification shall come into force with effect from the 01st day of June, 2023. [F. No. 467/01/2023-Cus.V] HARISH KUMAR, 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. 34/2023-Customs (N.T.), dated the 15th May, 2023, e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O. 2182(E), dated 15th May, 2023. 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.

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