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Date: 14-Nov-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 gazette notification, numbered 80/2024-Customs (N.T.), issued by the Ministry of Finance, Department of Revenue, Central Board of Indirect Taxes and Customs, revises the tariff values for certain imported goods. It supersedes the existing values provided in notification 36/2001-Customs (N.T.) dated August 3, 2001, as amended by notification 79/2024-Customs (N.T.) dated November 13, 2024.
  • The notification updates the tariff values for various commodities including different types of palm oil, soybean oil, brass scrap, gold, silver and areca nuts.

Key Changes

  • The notification replaces the existing Tables 1, 2 and 3 in the original notification with new tables specifying revised tariff values.
  • Crude Palm Oil tariff value is set at USD 1080 per metric ton.
  • RBD Palm Oil and Other Palm Oil are set at USD 1081 per metric ton.
  • Crude Palmolein is set at USD 1085 per metric ton.
  • RBD Palmolein is set at USD 1088 per metric ton.
  • Other Palmolein is set at USD 1087 per metric ton.
  • Crude Soybean Oil is set at USD 1087 per metric ton.
  • Brass Scrap (all grades) is set at USD 5450 per metric ton.
  • Gold in any form, where benefit of notification 50/2017-Customs is availed, is set at USD 837 per 10 grams.
  • Silver in any form, where benefit of notification 50/2017-Customs is availed, is set at USD 1005 per kilogram.
  • Silver, other than medallions and silver coins, is set at USD 1005 per kilogram.
  • Medallions and silver coins with silver content not below 99.9% is set at USD 1005 per kilogram, excluding imports via post, courier or baggage.
  • Gold bars, other than tola bars, with specific markings and Gold coins with gold content not below 99.5% is set at USD 837 per 10 grams, excluding imports via post, courier or baggage.
  • Areca nuts tariff value remains unchanged at USD 6552 per metric ton.
  • The revised tariff values are effective from November 15, 2024.

Impact Analysis

Importers

  • Importers need to ensure compliance with the new regulations from November 15, 2024.

Consumers

  • The extent of price increases will depend on the pass-through of increased import costs by manufacturers and retailers.

Manufacturers

  • Manufacturers will need to review their supply chains and potentially explore alternative sourcing options to mitigate the impact of increased costs.

Government

  • The government may need to assess the impact of the changes on domestic industries and trade.

Action Items

  • Industry associations should provide guidance to their members on the implications of the notification.

Key Entities Referenced

Ministry of Finance (Department of Revenue): The government body responsible for issuing the notification and overseeing customs and revenue matters. Central Board of Indirect Taxes and Customs (CBIC): The authority that exercises the powers conferred by the Customs Act, 1962, to amend the tariff values. Customs Act, 1962: The primary legislation that empowers the CBIC to set and amend tariff values. Notification No. 36/2001-Customs (N.T.): The original notification dated August 3, 2001, that is being amended by this notification. Notification No. 50/2017-Customs: The notification dated June 30, 2017, which provides benefits related to gold and silver imports. Notification No. 79/2024-Customs (N.T.): The previous amendment notification dated November 13, 2024, that is being superseded by this notification.
Official Source Record View Original Source →
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-14112024-258667 xxxGIDHxxx CG-DLxx-xEG-I1D4E1x1x2x0 24-258667 असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 4547] नई दिल्ली, बृहस्ट्प जतिार, निम्ब र 14, 2024/कार्तकड 23, 1946 No. 4547] NEW DELHI, THURSDAY, NOVEMBER 14, 2024/KARTIKA 23, 1946 जित्त मंत्रालय (रािस्ट्ि जिभाग) (केंद्रीय अप्रत्यक्ष कर एि ंसीमा िल्ु क बोडड) अजधसचू ना नई दिल्ली, 14 निम् बर, 2024 स.ं 80/2024-सीमा िल्ु क (ग.ैटै.) का.आ. 4931(अ).—सीमा िुल्क अजधजनयम, 1962 (1962 का 52) की धारा 14 की उपधारा (2) द्वारा प्रित्त िजियों का प्रयोग करते हुए, केंद्रीय अप्रत्यक्ष कर एि ं सीमा िुल्क बोडड, इस बात स े संतुष्ट होने पर दक ऐसा करना आिश्यक एि ं समीचीन ह,ै एतद्द्वारा, भारत सरकार, जित्त मंत्रालय (रािस्ट्ि जिभाग) की अजधसूचना स.ं 36/2001-सीमा िुल्क (ग.ै ट.ै ), दिनांक 3 अगस्ट्त, 2001, जिसे का.आ. 748 (अ), दिनांक 3 अगस्ट्त, 2001 के तहत भारत के रािपत्र, असाधारण के भाग-II, खंड-3, उपखंड (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 सारजणयााँ प्रजतस्ट्थाजपत की िाएाँगी, अथाडत:् - 7385 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 कच्चा पॉम ऑयल 1080 2 1511 90 10 आर बी डी पॉम ऑयल 1081 3 1511 90 90 अन्य पॉम ऑयल 1081 4 1511 10 00 कच्चा पामोजलन 1085 5 1511 90 20 आर बी डी पामोलीन 1088 6 1511 90 90 अन्य पामोलीन 1087 7 1507 10 00 सोयाबीन का कच्चा तेल 1087 8 7404 00 22 पीतल स्ट्क्रैप (सभी ग्रेड) 5450 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 स्ट्िण,ड दकसी भी रूप म,ें जिसके सम्बन्ध म ें अजधसूचना संख्या 50/2017-सीमा िुल्क, दिनांक 30.06.2017 837 प्रजत 10 ग्राम की प्रजिजष्ट संख्या 356 के अतं गडत लाभ प्राप्त दकया गया हो 2 71 या 98 रित, दकसी भी रूप म,ें जिसके सम्बन्ध म ें अजधसूचना संख्या 50/2017-सीमा िुल्क, दिनांक 30.06.2017 1005 प्रजत दकलोग्राम की प्रजिजष्ट संख्या 357 के अतं गडत लाभ प्राप्त दकया गया हो (i) रित, पिकीय या रित जसक्कों स े जभन्न दकसी भी रूप म,ें जिसकी रित अंतिडस्ट्त ु 99.9 प्रजतित स े कम नहीं ह ै या उपिीर् ड 7106 92 के अधीन आन े िाले रित के अध ड जिजनर्मडत प्ररूप; (ii) पिकीय या रित जसक्के, जिसकी रित अंतिडस्ट्त ु 3 71 99.9 प्रजतित से कम नहीं ह ै या डाक, कुररयर या 1005 प्रजत दकलोग्राम सामान के माध्यम स े ऐसे माल के आयात स े जभन्न उपिीर् ड 7106 92 के अधीन आन े िाल े रित के अध ड 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 अंतगतड जििेिी मुद्रा के जसक्के, रित स े बने आभूर्ण या रित स े बनी िस्ट्तुए ंनहीं ह।ैं (i) स्ट्िण ड बार, तोला बार से जभन्न, जिस पर जिजनमाडणकता ड या ररयाइनर का खुिा हुआ क्रम संख्यांक और जमररक यूजनटों म ें भार अजभव्यि ह;ै (ii) स्ट्िण ड जसक्के, जिसमें 99.5 प्रजतित से अन्यनू स्ट्िणड ह,ै और स्ट्िणड प्राजप्तयां, डाक, कुररयर या बैगेि के माध्यम 837 प्रजत 10 ग्राम स े ऐसे माल के आयात स े जभन्न। 4 71 स्ट्पष्टीकरण - इस प्रजिजष्ट के प्रयोिन के जलए, "स्ट्िण ड 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 6552(अथाडत कोई 080280 सुपारी पररितडन नहीं)” 2. यह अजधसूचना 15 निंबर, 2024 से प्रभािी होगी I [फा. स.ं 467/01/2024-सीमा िुल्क.V] मेघा बंसल, अिर सजचि नोट :- मूल अजधसूचना भारत के रािपत्र, असाधारण के भाग-II, खंड-3, उपखंड (ii) में अजधसूचना स.ं 36/2001- सीमा िुल्क (ग.ैटै.), दिनांक 3 अगस्ट्त, 2001, का.आ. 748 (अ), दिनांक 3 अगस्ट्त, 2001 के तहत प्रकाजित की गई थी, तथा यह अंजतम बार अजधसूचना स.ं 79/2024-सीमािुल्क (ग.ैटै.), दिनांक 13 निंबर 2024, जिसे का.आ. 4919 (अ) दिनांक 13 निंबर 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 14th November, 2024 No. 80/2024-CUSTOMS (N.T.) S.O. 4931(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 1080 2 1511 90 10 RBD Palm Oil 1081 3 1511 90 90 Others – Palm Oil 1081 4 1511 10 00 Crude Palmolein 1085 5 1511 90 20 RBD Palmolein 1088 6 1511 90 90 Others – Palmolein 1087 7 1507 10 00 Crude Soya bean Oil 1087 8 7404 00 22 Brass Scrap (all grades) 5450 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 71 or 98 entries at serial number 356 of the Notification No. 837 per 10 grams 1. 50/2017-Customs dated 30.06.2017 is availed Silver, in any form, in respect of which the benefit of 71 or 98 entries at serial number 357 of the Notification No. 1005 per kilogram 2. 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 not below 99.9% or semi-manufactured forms of 3. 1005 per kilogram 71 silver 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.[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 below 99.5% and gold findings, other than imports of such goods 71 837 per 10 grams through post, courier or baggage. 4. 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 6552 (i.e., no change)” 2. This notification shall come into force with effect from the 15th day of November, 2024. [F. No. 467/01/2024-Cus.V] MEGHA BANSAL, 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. 79/2024-Customs (N.T.), dated the 13th November 2024 e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O. 4919 (E), dated 13th November 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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