Home India Ministry of Finance The Central Board of Excise and Customs, being satisfied tha...
Date: 2014-06-13 Category: Extra Ordinary State: Union Government Country: India

The Central Board of Excise and Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Govt. of India in the Ministry of Finance (Department of Revenue), No. 36-2001-Customs (N.T.), dated the 3rd August, 2001.

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

Executive Summary: This notification, No. 46/2014-Customs, issued on June 13, 2014, by the Central Board of Excise and Customs, amends Notification No. 36/2001-Customs, dated August 3, 2001. The amendment substitutes new tables specifying tariff values for certain goods. It is issued under the powers conferred by subsection 2 of Section 14 of the Customs Act, 1962. Key Points / Main Content: * **Amendment:** * Replaces TABLE1, TABLE2, and TABLE3 of Notification No. 36/2001-Customs with updated tables. * **TABLE1: Tariff Values for Various Oils and Seeds (Per Metric Ton)** * Crude Palm Oil: $860 * RBD Palm Oil: $895 * Other Palm Oil: $878 * Crude Palmolein: $903 * RBD Palmolein: $906 * Other Palmolein: $905 * Crude Soyabean Oil: $938 * Brass Scrap (all grades): $3920 * Poppy Seeds: $3255 * **TABLE 2: Tariff Values for Gold and Silver** * Gold (in any form, benefiting from Notification No. 12/2012-Customs, entries 321 & 323): $411 per 10 grams * Silver (in any form, benefiting from Notification No. 12/2012-Customs, entries 322 & 324): $632 per kilogram * **TABLE 3: Tariff Value for Areca Nuts (Per Metric Ton)** * Areca nuts: $1912 Impact Analysis: * **Importers:** * Impact: Importers of the specified goods (oils, seeds, gold, silver, and areca nuts) will be subject to the revised tariff values. * Action Required: Importers need to be aware of the new tariff values for customs declarations and duty calculations. * **Customs Officials:** * Impact: Customs officials must use the updated tariff values for assessment and clearance of imported goods. * Action Required: Implement the new tariff values as specified in the updated tables.

Key Entities Referenced

Central Board of Excise and Customs: The governing body issuing the notification regarding amendments to tariff values. Customs Act, 1962: The primary legislation under which the notification regarding tariff values is issued. Specifically, it refers to Section 14, subsection 2 of the Act. Notification No. 362001Customs N.T., dated the 3rd August, 2001: The original notification being amended by the current notification, concerning customs matters. New Delhi: Location where the notification was issued. Akshay Joshi: Under Secretary who issued the notification. Ministry of Finance, Department of Revenue: The government ministry and department responsible for the notification. Notification No. 12/2012-Customs, dated 17/3/2012: Notification providing benefit of entries at serial number 321 and 323 for Gold, and 322 and 324 for Silver Notification No. 44/2014-Customs N.T., dated the 30th May, 2014: The last amended notification concerning customs matters.
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S.O. 1526(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 and 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. 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 860 2. 1511 90 10 RBD Palm Oil 895 3. 1511 90 90 Others—Palm Oil 878 4. 1511 10 00 Crude Palmolein 903 5. 1511 90 20 RBD Palmolein 906¹Hkkx II—[kMa 3(ii)] Hkkjr dk jkti=k % vlk/kj.k 3 (1) (2) (3) (4) 6. 1511 90 90 Others—Palmolein 905 7. 1507 10 00 Crude Soyabean Oil 938 8. 7404 00 22 Brass Scrap (all grades) 3920 9. 1207 91 00 Poppy Seeds 3255 TABLE-2 Sl. No. Chapter/heading/sub- Description of goods Tariff value heading/tariff item (US $) (1) (2) (3) (4) 1. 71 or 98 Gold, in any form, in respect of which the benefit of 411 per 10 grams entries at serial number 321 and 323 of the Notification No. 12/2012-Customs, dated 17-3-2012 is availed 2. 71 or 98 Silver, in any form, in respect of which the benefit of 632 per kilogram entries at serial number 322 and 324 of the Notification No. 12/2012-Customs, dated 17-3-2012 is availed TABLE-3 Sl. No. Chapter/heading/sub- Description of goods Tariff value heading/tariff item (US $ Per Metric Tons) (1) (2) (3) (4) 1. 080280 Areca nuts 1912 ” [F. No. 467/01/2014-Cus.-V ] AKSHAY JOSHI, 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. 44/2014-Customs (N.T.), dated the 30th May, 2014, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), vide number S.O. 1417(E), dated the 30th May, 2014. Printed by the Manager, Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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