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Taxation Central Ministry of Finance Customs Act, 1962

Tariff Values for Edible Oils, Brass Scrap, Areca Nut, Gold & Silver from 01.11.2023

31-Oct-2023 | 79/2023-CUSTOMS (N.T.)

Ministry of Finance introduces has issued a Notification introducing changes to tariff values for various goods, effective from 1st November 2023.

The key amendments are:

1. Amendments to TABLE-1: The notification substitutes TABLE-1, providing updated tariff values for specific goods. Notable changes include:

Crude Palm Oil: $842 per Metric Tonne
RBD Palm Oil: $859 per Metric Tonne
Other Palm Oils: $851 per Metric Tonne
Crude Palmolein: $863 per Metric Tonne
RBD Palmolein: $866 per Metric Tonne
Other Palmolein: $865 per Metric Tonne
Crude Soya bean Oil: $956 per Metric Tonne
Brass Scrap (all grades): $4591 per Metric Tonne

2. Amendments to TABLE-2: This table introduce changes in tariff values for gold and silver:

Gold in any form (specific entries): $643 per 10 grams
Silver in any form (under certain conditions): $749 per kilogram
Gold bars (excluding tola bars) with manufacturers or refiner’s engraved details: $643 per 10 grams.
Gold coins with gold content not below 99.5%: $643 per 10 grams

3. Amendments to TABLE-3: TABLE-3 remains unchanged, maintaining the tariff value for Areca nuts at $8068 per Metric Tonne.




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