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Tariff values of all Edible Oils and Silver increased but Gold sees a dip

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION-3, SUB-SECTION (ii)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
NEW DELHI

NOTIFICATION NO

61/2019-CUSTOMS (NT), Dated: August 14, 2019

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

Sl. No.Chapter/ heading/ sub-heading/tariff itemDescription of goodsTariff value (US $Per Metric Tonne)
(1)(2)(3)(4)
11511 10 00Crude Palm Oil527
21511 90 10RBD Palm Oil557
31511 90 90Others – Palm Oil542
41511 10 00Crude Palmolein567
51511 90 20RBD Palmolein570
61511 90 90Others – Palmolein569
71507 10 00Crude Soya bean Oil737
87404 00 22Brass Scrap (all grades)3471
91207 91 00Poppy seeds3395

TABLE-2

Sl. No.Chapter/ heading/ sub-heading/tariff itemDescription of goodsTariff value (US $)
(1)(2)(3)(4)
1.71 or 98Gold, in any form, in respect of which the benefit of entries at serial number 356 of the Notification No. 50/2017-Customs dated 30.06.2017 is availed482 per 10 grams
2.71 or 98Silver, in any form, in respect of which the benefit of entries at serial number 357 of the Notification No. 50/2017-Customs dated 30.06.2017 is availed563 per kilogram
3.71(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;(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.563 per kilogram
4.71(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% 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.482 per 10 grams

TABLE-3

No.Chapter/heading/sub-heading/tariff itemDescription of goodsTariff value (US $ Per Metric Tonne)
(1)
(2)
(3)
(4)
1080280
Areca nuts3915″

[F. No. 467/01/2019 -Cus-V]

(Gunjan Kumar Verma)
Under Secretary to the Govt. of India

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. 57/2019-Customs (N.T.), dated the 8th August, 2019, e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O. 2872(E), dated 8th August, 2019.

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