Executive Summary:
This notification from the Central Board of Indirect Taxes and Customs amends notification No. 362001-Customs N.T., dated August 3, 2001, regarding tariff values. It substitutes the existing tables with revised 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 June 28, 2019.
Key Points / Main Content:
Revised Tariff Values:
* Table 1 substitutes tariff values for various types of Palm Oil, Soya bean Oil, Brass Scrap and Poppy seeds, specified by tariff item. Values are expressed in US Dollars per Metric Tonne.
* Table 2 substitutes tariff values for Gold and Silver, in any form, in respect of which the benefit of entries at serial number 356, 358, 357 and 359 of Notification No. 50/2017-Customs dated 30.06.2017 is availed. Values are expressed in US Dollars per 10 grams for Gold and US Dollars per kilogram for Silver.
* Table 3 substitutes tariff values for Areca nuts, specified by tariff item. Values are expressed in US Dollars per Metric Tonne.
Impact Analysis:
Importers/Exporters:
Impact: Changes in tariff values will affect the cost of importing and exporting goods such as palm oil, palmolein, soya bean oil, brass scrap, poppy seeds, gold, silver and areca nuts.
Action Required: Importers/exporters need to review the revised tariff values to assess the financial impact on their transactions and adjust pricing and costing accordingly.
Customs Officials:
Impact: Customs officials are required to use the updated tariff values for assessment and duty collection purposes.
Action Required: Update internal systems and procedures to reflect the new tariff values and ensure accurate application during customs clearance.
Key Entities Referenced
Customs Act, 1962: A legal act that empowers the Central Government to prevent illegal import, export of goods and enables collection of customs duties.
Central Board of Indirect Taxes and Customs: A government agency responsible for formulation of policy concerning levy and collection of customs duties, central excise duties and service tax.
Ministry of Finance, Department of Revenue: The department of the Indian government responsible for policies related to direct and indirect taxes.
New Delhi: The location where the notification was issued, New Delhi, Delhi.
Gunjan Kumar Verma: Under Secretary in the Ministry of Finance, Department of Revenue, who signed the notification.
Notification No. 362001Customs N.T.: The original notification being amended.
Notification No. 502017Customs: A customs notification referenced in the document concerning benefit of entries for gold and silver.
Crude Palm Oil: A commodity whose tariff value is being modified by this notification
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3213 GI/2019 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
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[फा. स.ं 467/01/2019-सीमा शु(cid:3)क –V]
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MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)
NOTIFICATION
New Delhi, the 28th June, 2019
No. 47/2019-CUSTOMS (N.T.)
S.O. 2219(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 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
Tariff value
Chapter/ heading/ sub-
Sl. No. Description of goods (US $Per Metric
heading/tariff item
Tonne)
(1) (2) (3) (4)
1 1511 10 00 Crude Palm Oil 508
2 1511 90 10 RBD Palm Oil 540
3 1511 90 90 Others – Palm Oil 524
4 1511 10 00 Crude Palmolein 546
5 1511 90 20 RBD Palmolein 549
6 1511 90 90 Others – Palmolein 548
7 1507 10 00 Crude Soya bean Oil 697
8 7404 00 22 Brass Scrap (all grades) 3471
9 1207 91 00 Poppy seeds 3350
TABLE-2
Sl. Chapter/ heading/ sub- Description of goods Tariff value
No. 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
71 or 98 451 per 10 grams
of the 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
71 or 98 492 per kilogram
of the Notification No. 50/2017-Customs dated
30.06.2017 is availed4 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
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 3920”
[F. No. 467/01/2019 -Cus-V]
GUNJAN KUMAR VERMA, 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. 46/2019-
Customs (N.T.), dated the 25th June, 2019, e-published in the Gazette of India, Extraordinary, Part-II,
Section-3, Sub-section (ii), vide number S.O. 2067(E), dated 25th June, 2019.
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.