**Executive Summary:**
This notification, No. 85/2016-Customs (N.T.), issued on June 14, 2016, by the Central Board of Excise and Customs, amends Notification No. 36/2001-Customs (N.T.) dated August 3, 2001. The amendment substitutes new tables specifying tariff values for various goods, as per Section 14 of the Customs Act, 1962. The notification is effective from the date of publication.
**Key Points / Main Content:**
* **Amendment Authority:** Issued by the Central Board of Excise and Customs, Department of Revenue, Ministry of Finance.
* **Legal Basis:** Exercised under subsection (2) of Section 14 of the Customs Act, 1962.
* **Amendment Details:** Substitutes TABLE 1, TABLE 2 and TABLE 3 in Notification No. 36/2001-Customs (N.T.), dated August 3, 2001.
* **Tariff Values:**
* Specifies tariff values (USD per Metric Tonne) for various goods, including:
* Crude Palm Oil (715)
* RBD Palm Oil (729)
* Others Palm Oil (722)
* Crude Palmolein (746)
* RBD Palmolein (749)
* Others Palmolein (748)
* Crude Soya bean Oil (782)
* Brass Scrap all grades (2970)
* Poppy seeds (2533)
* Specifies tariff values for:
* Gold (122012 per 10 grams)
* Silver (531 per kilogram)
* Specifies tariff values for:
* Areca nuts (2617 per Metric Tons)
* **Note:** The principal notification was published in the Gazette of India, Extraordinary, PartII, Section3, Subsection ii, vide Notification No. 362001Customs N.T., dated the 3rd August, 2001, vide number S.O. 748E, dated the 3rd August, 2001 and was last amended vide Notification No. 782016Customs N.T., dated the 31st May, 2016, published in the Gazette of India, Extraordinary, PartII, Section3, Subsection ii, vide number S. O. 1921E, dated the 31st May, 2016.
**Impact Analysis**
* **Importers/Exporters:**
* *Impact:* Changes in tariff values will directly affect the cost of importing/exporting goods listed in the tables.
* *Action Required:* Review and adjust costing and pricing strategies based on the revised tariff values.
* **Customs Officials:**
* *Impact:* Required to use the updated tariff values for assessment and collection of customs duties.
* *Action Required:* Implement the new tariff values in customs clearance procedures.
* **Businesses dealing with Gold and Silver:**
* *Impact:* Changes in tariff values will directly affect the cost of importing/exporting Gold and Silver.
* *Action Required:* Review and adjust costing and pricing strategies based on the revised tariff values.
Key Entities Referenced
Customs Act, 1962: A law governing customs duties and regulations in India, referenced as the legal basis for the notification.
Central Board of Excise and Customs: A government agency responsible for administering indirect taxes like excise duty and customs duty in India. It is now known as Central Board of Indirect Taxes and Customs (CBIC).
Ministry of Finance, Department of Revenue: A department of the Indian government responsible for financial matters, including revenue collection and taxation.
New Delhi: The capital city of India, where the notification was issued.
Gazette of India: The official government journal of India, in which notifications, rules, and regulations are published.
Crude Palm Oil: A type of palm oil that is mentioned in the notification document
RBD Palm Oil: A type of palm oil that is mentioned in the notification document
Notification No. 362001Customs N.T.: A customs notification which is amended by this notification.
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3010 GI/2016 (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 EXCISE AND CUSTOMS)
NOTIFICATION
New Delhi, the 14th June, 2016
No. 85/2016-CUSTOMS (N. T.)
S.O. 2100(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 Excise & Customs, being satisfied that it is necessary and
expedient so to do, hereby makes the following amendment 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
Sl. Chapter/ heading/ sub- Tariff value US $
Description of goods
No. heading/tariff item (Per Metric Tonne)
(1) (2) (3) (4)
1 1511 10 00 Crude Palm Oil 715 (i.e. no change)
2 1511 90 10 RBD Palm Oil 729 (i.e. no change)
3 1511 90 90 Others – Palm Oil 722 (i.e. no change)
4 1511 10 00 Crude Palmolein 746 (i.e. no change)
5 1511 90 20 RBD Palmolein 749 (i.e. no change)
6 1511 90 90 Others – Palmolein 748 (i.e. no change)
7 1507 10 00 Crude Soya bean Oil 782 (i.e. no change)
8 7404 00 22 Brass Scrap (all grades) 2970 (i.e. no change)
9 1207 91 00 Poppy seeds 2533 (i.e. no change)
TABLE-2
Sl. Chapter/ heading/ Description of goods Tariff value
No. sub-heading/tariff (US $)
item
(1) (2) (3) (4)
1 Gold, in any form, in respect of which the benefit of entries
71 or 98 at serial number 321 and 323 of the Notification No. 416 per 10 grams
12/2012-Customs dated 17.03.2012 is availed
2 Silver, in any form, in respect of which the benefit of
531 per kilogram
71 or 98 entries at serial number 322 and 324 of the Notification No.
(i.e. no change)
12/2012-Customs dated 17.03.2012 is availed4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
TABLE-3
Sl. Chapter/ heading/ sub-heading/ Description of goods Tariff value
No. tariff item (US $ Per Metric Tons )
(1) (2) (3) (4)
1 080280 Areca nuts 2617 (i.e. no change)”
[F. No. 467/01/2016 -Cus-V ]
ANURAG SEHGAL, 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. 78/2016-Customs (N.T.),
dated the 31st May, 2016, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii),
vide number S. O. 1921(E), dated the 31st May, 2016.
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.