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Date: 15-Oct-2024 Category: Extra Ordinary State: Union Government Country: India

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 and Customs

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

What it means

  • This is a notification from the Ministry of Finance (Department of Revenue), Central Board of Indirect Taxes and Customs, amending the tariff values for certain goods under the Customs Act, 1962.
  • It revises the tariff values specified in Tables 1, 2, and 3 of Notification No. 36/2001-Customs (N.T.), dated August 3, 2001. This notification supersedes previous amendments made on September 30, 2024.

Key Changes

  • New tariff values are established for various goods, including different types of palm oil, palmolein, soybean oil, brass scrap, gold, and silver. These values are expressed in US dollars per metric tonne (for some items) or per 10 grams/kilogram (for gold and silver).
  • Table 1: Crude palm oil tariff value increased to 1008 USD/MT, RBD palm oil to 1019 USD/MT, others to 1014 USD/MT. Similar changes are reflected for palmolein and soybean oil.
  • Table 1: Brass scrap tariff value significantly increased to 5626 USD/MT.
  • Table 2: Tariff values for gold and silver are specified based on their form and purity, with reference to Notification No. 50/2017-Customs.
  • Table 3: Areca nut tariff value increased to 6552 USD/MT.
  • The notification comes into effect from October 16, 2024.

Impact Analysis

Importers

  • Action Item: Importers should review the updated tariff values and adjust their import plans and pricing accordingly. They should also consult with customs brokers to ensure compliance with the new regulations.

Exporters

  • Action Item: Exporters need to monitor the impact of the tariff changes on domestic market prices and adjust their export strategies accordingly.

Government

  • Action Item: The government should monitor the impact of the tariff changes on import volumes and revenue generation.

Consumers

  • Action Item: Consumers should be aware of potential price increases for goods affected by the tariff changes.

Key Entities Referenced

Ministry of Finance (Department of Revenue): The issuing authority of the notification. Central Board of Indirect Taxes and Customs (CBIC): The body responsible for implementing the Customs Act, 1962. Customs Act, 1962 (52 of 1962): The legislation under which the notification is issued. Notification No. 36/2001-Customs (N.T.), dated August 3, 2001: The principal notification that is being amended. Notification No. 50/2017-Customs, dated June 30, 2017: A previous notification referenced in determining tariff values for gold and silver. Notification No. 64/2024-Customs (N.T.), dated September 30, 2024: The previous amendment to Notification No. 36/2001-Customs (N.T.)
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-15102024-257925 CG-DxLx-xEG-I1D5H1x0x2x0 24-257925 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.ं 4171] नई दिल्ली, मगं लिार, अक्त बू र 15, 2024/आजश्ि न 23, 1946 No. 4171] NEW DELHI, TUESDAY, OCTOBER 15, 2024/ASVINA 23, 1946 जित्त मत्रं ालय (रािस्ट्ि जिभाग) (केंद्रीय अप्रत्यक्ष कर एि ं सीमा िल्ु क बोडड) अजधसचू ना नई दिल् ली, 15 अक् तूबर, 2024 स.ं 66/2024-सीमा िल्ु क (ग.ैटै.) का.आ. 4535(अ).—सीमा िल्ु क अजधजनयम, 1962 (1962 का 52) की धारा 14 की उपधारा (2) द्वारा प्रित् त िजियों का प्रयोग करते हुए, केंद्रीय अप्रत्यक्ष कर एि ं सीमा िुल्क बोडड, इस बात स े संतुष्ट होन ेपर दक ऐसा करना आिश्यक एि ं समीचीन ह,ै एतद्द्वारा, भारत सरकार, जित्त मंत्रालय (रािस्ट्ि जिभाग) की अजधसूचना स.ं 36/2001-सीमा िल्ु क (ग.ै ट.ै ), दिनांक 3 अगस्ट्त, 2001, जिसे का.आ. 748 (अ), दिनांक 3 अगस्ट्त, 2001 के तहत भारत के रािपत्र, असाधारण के भाग-II, खडं -3, उपखडं (ii) म ें प्रकाजित दकया गया था, म ें जनम्नजलजखत संिोधन करता ह,ै अथाडत:् - उि अजधसूचना म,ें सारणी-1, सारणी-2 और सारणी-3 के स्ट्थान पर जनम्नजलजखत सारजणया ाँ प्रजतस्ट्थाजपत की िाएाँगी, अथाडत:् - 6728 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] "सारणी-1 क्रम. स.ं अध्याय/िीर्/ड उपिीर्/ड टैररफ मल्ू य माल का जििरण टैररफ मि (अमरीकी डालर प्रजत मीररक टन) (1) (2) (3) (4) 1 1511 10 00 कच् चा पॉम ऑयल 1008 2 1511 90 10 आर बी डी पॉम ऑयल 1019 3 1511 90 90 अन्य पॉम ऑयल 1014 4 1511 10 00 कच् चा पामोजलन 1024 5 1511 90 20 आर बी डी पामोलीन 1027 6 1511 90 90 अन्य पामोलीन 1026 7 1507 10 00 सोयाबीन का कच् चा तेल 1025 8 7404 00 22 पीतल स्ट्क्रैप (सभी ग्रडे ) 5626 सारणी-2 क्रम. स.ं अध्याय/िीर्/ड टैररफ मल्ू य माल का जििरण उपिीर्/ड टैररफ मि (अमरीकी डालर) (1) (2) (3) (4) 1 71 या 98 स्ट्िणड, दकसी भी रूप म,ें जिसके सम्बन्ध म ें अजधसूचना संख्या 50/2017-सीमा िल्ु क, दिनांक 30.06.2017 855 प्रजत 10 ग्राम की प्रजिजष्ट संख्या 356 के अंतगतड लाभ प्राप्त दकया गया हो 2 71 या 98 रित, दकसी भी रूप म,ें जिसके सम्बन्ध म ें अजधसूचना संख्या 50/2017-सीमा िल्ु क, दिनांक 30.06.2017 1016 प्रजत दकलोग्राम की प्रजिजष्ट संख्या 357 के अंतगतड लाभ प्राप्त दकया गया ह ो (i) रित, पिकीय या रित जसक्क ों स ेजभन्न दकसी भी रूप म,ें जिसकी रित अतं िडस्ट्त ु 99.9 प्रजतित स े कम नहीं ह ैया उपिीर् ड7106 92 के अधीन आने िाले रित के अध ड जिजनर्मडत प्ररूप; 3 71 (ii) पिकीय या रित जसक्क े, जिसकी रित अंतिडस्ट्तु 1016 प्रजत दकलोग्राम 99.9 प्रजतित स ेकम नहीं ह ैया डाक, कुररयर या सामान के माध्यम स े ऐसे माल के आयात स े जभन्न उपिीर् ड 7106 92 के अधीन आने िाल े रित के अधड जिजनर्मडत प्ररूप।[भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 3 स्ट्पष्टीकरण - इस प्रजिजष्ट के प्रयोिनों के जलए, दकसी भी प्ररूप म ें रित के अंतगडत जििेिी मुद्रा के जसक्के, रित स े बने आभूर्ण या रित स े बनी िस्ट्तुए ंनहीं ह।ैं (i) स्ट्िण ड बार, तोला बार स े जभन्न, जिस पर जिजनमाडणकताड या ररयाइनर का खुिा हुआ क्रम संख्यांक और जमररक यूजनटों म ेंभार अजभव्यि ह;ै (ii) स्ट्िणड जसक्क े, जिसम ें99.5 प्रजतित स ेअन्यनू स्ट्िण ड 4 71 855 प्रजत 10 ग्राम ह,ै और स्ट्िण ड प्राजप्तयां, डाक, कुररयर या बगै ेि के माध्यम स े ऐसे माल के आयात स े जभन्न। स्ट्पष्टीकरण - इस प्रजिजष्ट के प्रयोिन के जलए, "स्ट्िणड प्राजप्तयां" स ेकोई छोटा संघटक, िैसे हुक, क्लास्ट्प, क्लैंप, जपन, कैच, स्ट्क्रू बैक, जिसका उपयोग पूण ड आभूर्ण या उसके दकसी भाग को स्ट्थान म ेंिोड़े रखन ेके जलए दकया िाता ह,ै अजभप्रेत ह।ै सारणी-3 क्रम. स.ं अध्याय/िीर्/ड टैररफ मल्ू य उपिीर्/ड टैररफ माल का जििरण (अमरीकी डालर प्रजत मि मीररक टन) (1) (2) (3) (4) 1 080280 सुपारी 6552” 2. यह अजधसूचना 16 अक्त ूबर, 2024 से प्रभािी होगी I [फा. स.ं 467/01/2024-सीमा िुल्क.V] संिीत कुमार, अिर सजचि नोट:- मलू अजधसूचना भारत के रािपत्र, असाधारण के भाग-II, खडं -3, उपखडं (ii) म ें अजधसूचना स.ं 36/2001- सीमा िुल्क (ग.ैटै.), दिनांक 3 अगस्ट्त, 2001, का.आ. 748 (अ), दिनाकं 3 अगस्ट्त, 2001 के तहत प्रकाजित की गई थी, तथा यह अंजतम बार अजधसूचना स.ं 64/2024-सीमािुल्क (ग.ै ट.ै ), दिनांक 30 जसतम्बर 2024, जिसे का.आ. 4267 (अ) दिनांक 30 जसतम्बर 2024 के तहत भारत के रािपत्र, असाधारण के भाग-II, खंड-3, उपखंड (ii) म ेंई-प्रकाजित दकया गया था, के द्वारा संिोजधत की गई थीI4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) NOTIFICATION New Delhi, the 15th October, 2024 No. 66/2024-CUSTOMS (N.T.) S.O. 4535(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 1008 2 1511 90 10 RBD Palm Oil 1019 3 1511 90 90 Others – Palm Oil 1014 4 1511 10 00 Crude Palmolein 1024 5 1511 90 20 RBD Palmolein 1027 6 1511 90 90 Others – Palmolein 1026 7 1507 10 00 Crude Soya bean Oil 1025 8 7404 00 22 Brass Scrap (all grades) 5626 TABLE-2 Sl. No. Chapter/ heading/ Description of goods Tariff value sub-heading/tariff (US $) item (1) (2) (3) (4) Gold, in any form, in respect of which the benefit 1. 71 or 98 of entries at serial number 356 of the Notification 855 per 10 grams No. 50/2017-Customs dated 30.06.2017 is availed Silver, in any form, in respect of which the benefit 2. 71 or 98 of entries at serial number 357 of the Notification 1016 per kilogram No. 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; 3. 71 (ii) Medallions and silver coins having silver content not below 99.9% or semi- manufactured forms of silver falling under 1016 per kilogram 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.[भाग II—खण् ड 3(ii)] भारत का रािपत्र : असाधारण 5 (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 4. 71 below 99.5% and gold findings, other than imports of such goods through post, 855 per 10 grams 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/ Description of goods Tariff value sub-heading/tariff (US $ Per Metric Ton) item (1) (2) (3) (4) 1 080280 Areca nuts 6552” 2. This notification shall come into force with effect from the 16th day of October, 2024. [F. No. 467/01/2024-Cus.V] SANJEET 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. 64/2024-Customs (N.T.), dated the 30th September 2024 e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O. 4267 (E), dated 30th September 2024. 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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