Home India Ministry of Finance In exercise of the powers conferred by sub section (2) of se...
Date: 14-Aug-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

Description of the Gazette Notification

  • This notification, number 54/2024-Customs (N.T.), issued by the Ministry of Finance (Department of Revenue), Central Board of Indirect Taxes and Customs, amends the notification number 36/2001-Customs (N.T.), dated August 3, 2001. The amendment revises the tariff values for various goods, specifically those listed in Tables 1, 2, and 3.
  • The key change is the substitution of Tables 1, 2, and 3 with revised tables containing updated tariff values for several commodities including palm oil (crude and RBD), palmolein (crude and RBD), crude soybean oil, brass scrap, gold, and silver. Areca nuts tariff value is also updated in Table 3.

Key Changes

  • Revised tariff values for various goods are introduced, effective August 15, 2024.
  • Table 1: New tariff values are specified for crude palm oil (937 USD/MT), RBD palm oil (948 USD/MT), other palm oil (943 USD/MT), crude palmolein (953 USD/MT), RBD palmolein (956 USD/MT), other palmolein (955 USD/MT), crude soybean oil (988 USD/MT), and brass scrap (5216 USD/MT).
  • Table 2: Revised tariff values for gold and silver are provided, differentiating between various forms and considering previous notification benefits (Notification No. 50/2017-Customs dated 30.06.2017). Specific details on weight and purity are included.
  • Table 3: The tariff value for Areca nuts is updated to 6868 USD/MT.
  • The amendment replaces the previous Tables 1, 2, and 3 entirely.

Impact Analysis

Impact on Importers/Exporters

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

Impact on Government Revenue

  • Action Item: The government should monitor the impact of these changes on revenue collection and make adjustments if necessary.

Impact on Consumers

  • Action Item: Consumers should be aware of potential price fluctuations in the affected goods.

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 notification. Customs Act, 1962 (52 of 1962): The legal framework 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 previously issued notification referenced in Table 2, impacting the tariff values for gold and silver. Notification No. 53/2024-Customs (N.T.), dated July 31, 2024: A 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.-14082024-256394 CG-DxLx-xEG-I1D4H0x8x2x0 24-256394 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.ं 3169] नई दिल्ली, बुधिार, अगस्ट्त 14, 2024/श्रािण 23, 1946 No. 3169] NEW DELHI, WEDNESDAY AUGUST 14, 2024/SHRAVANA 23, 1946 जित्त मत्रं ालय (रािस्ट्ि जिभाग) (केंद्रीय अप्रत्यक्ष कर एि ं सीमा िल्ु क बोडड) अधिसचू ना नई दिल्ली, 14 अगस्ट् त, 2024 स.ं 54/2024-सीमा िल्ु क (ग.ैटै.) का.आ. 3485(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 िल्ु क बोड,ड 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 सारजणयााँ प्रजतस्ट्थाजपत की िाएाँगी, अथाडत:् - 5218 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] "सारणी-1 क्रम. स.ं अध्य ाय/िी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 937 2 1511 90 10 आर बी डी पॉम ऑयल 948 3 1511 90 90 अन् य पॉम ऑयल 943 4 1511 10 00 कच् चा पामोजलन 953 5 1511 90 20 आर बी डी पामोलीन 956 6 1511 90 90 अन्य पामोलीन 955 7 1507 10 00 सोयाबीन का कच् चा तेल 988 8 7404 00 22 पीतल स्ट् क्रेप (सभी ग्रडे ) 5216 सारणी-2 क्रम. स.ं अध्य ाय/िीर्/ड टैररफ मल्ू य उपिीर्/ड टैररफ माल का जििरण (अमरीकी डालर) मि (1) (2) (3) (4) 1 71 या 98 स्ट्िण,ड दकसी भी रूप म,ें जिसके सम्बन्ध म ें अजधसूचना संख्या 50/2017-सीमा िल्ु क, दिनांक 30.06.2017 की 795 प्रजत 10 ग्राम प्रजिजष्ट सख्ं या 356 के अतं गतड 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 की 903 प्रजत दकलोग्राम प्रजिजष्ट संख्या 357 के अतं गतड लाभ प्राप्त दकया गया हो (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 अधड जिजनर्मडत प्ररूप; (ii) पिकीय या रित जसक्क े, जिसकी रित अंतिडस्ट्त ु 99.9 3 71 903 प्रजत दकलोग्राम प्रजतित स ेकम नहीं ह ैया डाक, कुररयर या सामान के माध्यम स े ऐसे माल के आयात स े जभन्न उपिीर् ड7106 92 के अधीन आन े िाले 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 अंतगडत जििेिी मुद्रा के जसक्क े, रित स े बन े आभूर्ण या रित स े बनी िस्ट्तएु ं नहीं ह।ैं (i) स्ट्िणड बार, तोला बार स ेजभन्न, जिस पर जिजनमाडणकता ड या ररयाइनर का खुिा हुआ क्रम संख्यांक और मीररक यूजनटों म ेंभार अजभव्यि ह;ै 4 71 (ii) स्ट्िणड जसक्क े, जिसम ें 99.5 प्रजतित स ेअन्यनू स्ट्िणड ह,ै 795 प्रजत 10 ग्राम और स्ट्िण ड प्राजप्तया,ं डाक, कुररयर या बगै ेि के माध्यम स े ऐसे माल के आयात स े जभन्न। स्ट्पष्टीकरण - इस प्रजिजष्ट के प्रयोिन के जलए, "स्ट्िण ड प्राजप्तया"ं स े कोई छोटा संघटक, िैसे हुक, क्लास्ट्प, क्लैंप, जपन, कैच, स्ट्क्रू बैक, जिसका उपयोग पणू ड आभर्ू ण या उसके दकसी भाग को स्ट्थान म ेंिोड़ े रखन े के जलए दकया िाता ह,ै अजभप्रेत ह।ै सारणी-3 क्रम. स.ं अध्य ाय/िीर्/ड उपिीर्/ड टैररफ मल्ू य टैररफ मि माल का जििरण (अमरीकी डालर प्रजत मीररक टन) (1) (2) (3) (4) 1 080280 सुपारी 6868” 2. यह अजधसूचना 15 अगस्ट्त, 2024 से प्रभािी होगी I [फा. स.ं 467/01/2024-सीमा िुल्क.V] मेघा बंसल, अिर सजचि नोट:- मलू अजधसूचना भारत के रािपत्र, असाधारण के भाग-II, खडं -3, उपखडं (ii) म ें अजधसूचना स.ं 36/2001- सीमा िुल् क (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.ं 53/2024-सीमािुल्क (ग.ै ट.ै ), दिनांक 31 िलु ाई 2024, जिस े का.आ. 3058 (अ) दिनाकं 31 िलु ाई 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 August, 2024 No. 54/2024-CUSTOMS (N.T.) S.O. 3485(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/subheading/tariff Tariff value Sl. No. Description of goods item (US $Per Metric Tonne) (1) (2) (3) (4) 1 1511 10 00 Crude Palm Oil 937 2 1511 90 10 RBD Palm Oil 948 3 1511 90 90 Others – Palm Oil 943 4 1511 10 00 Crude Palmolein 953 5 1511 90 20 RBD Palmolein 956 6 1511 90 90 Others – Palmolein 955 7 1507 10 00 Crude Soya bean Oil 988 8 7404 00 22 Brass Scrap (all grades) 5216 TABLE-2 Sl. No. Chapter/heading/ Tariff value Description of goods sub-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. 795 per 10 grams 50/2017-Customs dated 30.06.2017 is availed 903 per kilogram Silver, in any form, in respect of which the benefit of 2. 71 or 98 entries at serial number 357 of the Notification 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; 903 per kilogram 3. 71 (ii) 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 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% 4. 71 795 per 10 grams and gold findings, other than imports of such goods 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/ Tariff value Description of goods sub-heading/tariff item (US $ Per Metric Ton) (1) (2) (3) (4) 1 080280 Areca nuts 6868” 2. This notification shall come into force with effect from the 15th day of August, 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. 53/2024-Customs (N.T.), dated the 31st July 2024 e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O. 3058 (E), dated 31st July 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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