Executive Summary:
This notification from the Ministry of Finance, Department of Revenue, amends notification No. 36/2001-Customs N.T. dated August 3, 2001, regarding tariff values. It substitutes new tables specifying 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 May 31, 2018.
Key Points / Main Content:
* **Amendment Authority:** The amendment is made under subsection 2 of section 14 of the Customs Act, 1962.
* **Table Substitution:** TABLE1, TABLE2, and TABLE3 of the original notification are replaced with new tables specifying tariff values.
* **TABLE1 (Tariff Value per Metric Tonne):**
* Crude Palm Oil: US$658
* RBD Palm Oil: US$681
* Others Palm Oil: US$670
* Crude Palmolein: US$687
* RBD Palmolein: US$690
* Others Palmolein: US$689
* Crude Soya bean Oil: US$769
* Brass Scrap (all grades): US$3819
* Poppy seeds: US$2531
* **TABLE 2**
* Gold (benefit of entries at serial number 356 and 358 of Notification No. 50/2017-Customs dated 30.06.2017 is availed): US$419 per 10 grams
* Silver (benefit of entries at serial number 357 and 359 of Notification No. 50/2017-Customs dated 30.06.2017 is availed): US$528 per kilogram
* **TABLE 3 (Tariff Value per Metric Tonne):**
* Areca nuts: US$3946
Impact Analysis:
* **Importers of Goods Listed in Tables:**
* Impact: Revised tariff values will affect the customs duties payable on imported goods.
* Action Required: Importers need to calculate customs duties based on the new tariff values specified in the notification.
* **Customs Officials:**
* Impact: Required to use the revised tariff values for assessment and collection of customs duties.
* Action Required: Implement the new tariff values for relevant goods as of May 31, 2018.
* **Central Board of Indirect Taxes and Customs:**
* Impact: Responsible for ensuring the correct implementation of the amended notification.
* Action Required: Monitor the implementation of the new tariff values and address any issues arising from the amendment.
Key Entities Referenced
Customs Act, 1962: The Act under which the Central Board of Indirect Taxes and Customs is authorized to make amendments to notifications regarding customs duties.
Central Board of Indirect Taxes and Customs: A government organization responsible for making amendments to notifications regarding customs duties.
Ministry of Finance Department of Revenue: A department of the Indian government responsible for revenue and financial matters, involved in issuing the original notification.
New Delhi: The location where the notification was issued.
Notification No. 362001Customs N.T.: The original notification being amended, dated August 3, 2001.
Notification No. 422018Customs N.T.: The previous notification that amended the original notification being amended, dated May 15th, 2018.
Notification No. 502017Customs: Notification regarding entries at serial number 356 and 358, dated 30.06.2017
Dr. SREEPARVATHY S. L.: Under Secretary who signed the notification.
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MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)
NOTIFICATION
New Delhi, the 31st May, 2018
No. 47/2018-CUSTOMS (N.T.)
S.O. 2204(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 amendment in the notification of the Government of India in¹Hkkx IIµ[k.M 3(ii)º Hkkjr dk jkti=k % vlk/kj.k 3
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. No. Chapter/ heading/ sub- Description of goods Tariff value (US
heading/tariff item $Per Metric Tonne)
(1) (2) (3) (4)
1 1511 10 00 Crude Palm Oil 658
2 1511 90 10 RBD Palm Oil 681
3 1511 90 90 Others – Palm Oil 670
4 1511 10 00 Crude Palmolein 687
5 1511 90 20 RBD Palmolein 690
6 1511 90 90 Others – Palmolein 689
7 1507 10 00 Crude Soya bean Oil 769
8 7404 00 22 Brass Scrap (all grades) 3819
9 1207 91 00 Poppy seeds 2531
TABLE-2
Sl. No. Chapter/ heading/ sub- Description of goods Tariff value
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 of the
71 or 98 419 per 10 grams
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 of the
71 or 98 528 per kilogram
Notification No. 50/2017-Customs dated 30.06.2017
is availed
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 3946”
[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. 42/2018-Customs (N.T.), dated the 15th May, 2018,
e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number
S.O. 1918(E), dated 15th May, 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.