Executive Summary:
This notification from the Central Board of Indirect Taxes and Customs amends notification No. 362001-Customs N.T., dated August 3, 2001, regarding tariff values. It provides revised tables of tariff values for various goods, including palm oil, palmolein, soya bean oil, brass scrap, poppy seeds, gold, silver and areca nuts. The notification is effective as of December 31, 2018.
Key Points / Main Content:
Revised Tariff Values:
* Table 1 substitutes tariff values for:
* Crude Palm Oil: US$503 per Metric Tonne
* RBD Palm Oil: US$529 per Metric Tonne
* Others Palm Oil: US$516 per Metric Tonne
* Crude Palmolein: US$537 per Metric Tonne
* RBD Palmolein: US$540 per Metric Tonne
* Others Palmolein: US$539 per Metric Tonne
* Crude Soya bean Oil: US$708 per Metric Tonne
* Brass Scrap (all grades): US$3619 per Metric Tonne
* Poppy seeds: US$2258 per Metric Tonne
* Table 2 substitutes tariff values for:
* Gold (benefit of Notification No. 50/2017-Customs dated 30.06.2017 availed): US$412 per 10 grams
* Silver (benefit of Notification No. 50/2017-Customs dated 30.06.2017 availed): US$493 per kilogram
* Table 3 substitutes tariff values for:
* Areca nuts: US$3942 per Metric Tonne
Impact Analysis:
Importers:
* Impact: Importers of goods listed in Tables 1, 2, and 3 will be subject to the revised tariff values.
* Action Required: Calculate import duties based on the new tariff values specified in the notification.
Customs Authorities:
* Impact: Customs officials must use the updated tariff values for assessment and collection of duties on imported goods.
* Action Required: Implement the revised tariff values for relevant goods and update internal systems accordingly.
Key Entities Referenced
Customs Act, 1962: An act of parliament of India to consolidate and amend the law relating to customs.
Central Board of Indirect Taxes and Customs: A government agency responsible for formulation of policy concerning levy and collection of customs, central excise duties, central goods & services tax and integrated goods & services tax and prevention of smuggling.
New Delhi: Capital of India, place of publication of the notification.
Ministry of Finance: A ministry within the Government of India concerned with the economy of India, serving as the Indian Treasury.
Department of Revenue: A department of the Ministry of Finance in the Government of India.
Notification No. 362001Customs N.T.: A notification issued by the Government of India in the Ministry of Finance, Department of Revenue, related to Customs.
Notification No. 502017Customs: A notification related to Customs, dated 30.06.2017.
Palm Oil: A type of vegetable oil derived from the mesocarp of the fruit of the oil palm tree
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7685 GI/2018 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
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MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)
NOTIFICATION
New Delhi, the 31st December, 2018
No. 102/2018-CUSTOMS (N.T.)
S.O. 6407(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 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. heading/tariff item Description of goods (US $ Per Metric
Tonne)
(1) (2) (3) (4)
1 1511 10 00 Crude Palm Oil 503
2 1511 90 10 RBD Palm Oil 529
3 1511 90 90 Others – Palm Oil 516
4 1511 10 00 Crude Palmolein 537
5 1511 90 20 RBD Palmolein 540
6 1511 90 90 Others – Palmolein 539
7 1507 10 00 Crude Soya bean Oil 708
8 7404 00 22 Brass Scrap (all grades) 3619
9 1207 91 00 Poppy seeds 2258
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
71 or 98 412 per 10 grams
of the 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
71 or 98 493 per kilogram
of the 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 3942”
[F. No. 467/01/2018-Cus-V]
Dr. SREEPARVATHY S.L., 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. 98/2018-
Customs (N.T.), dated the 14th December, 2018, e-published in the Gazette of India, Extraordinary,
Part-II, Section-3, Sub-section (ii), vide number S.O. 6189(E), dated 14th December, 2018.
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.