CBIC modifies tariff value of crude oil, palm oil, brass scrap, poppy seeds etc as on April 30, 2021

May 04, 2021 | by Avantis RegTech Legal Research Team

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Finance & Taxation Compliance

The Central Board of Indirect Taxes and Customs (CBIC) on April 30, 2021, has amended the tariff Notification in respect of fixation of tariff value of the following goods:

• Crude Palm Oil 

• RBD Palm Oil 

• Others- Palm Oil

• Crude Palmolein

• RBD Palmolein 

• Others- Palmolein 

• Crude Soya Bean Oil 

• Brass Scrap (all grades)

• Poppy Seeds

• Gold, in any form, in respect of which the benefit of entries at serial number 356 of the Notification No. 50/2017-Customs dated June 30, 2017 is availed.

• Silver, in any form, in respect of which the benefit of entries at serial number 357 of the Notification No. 50/2017-Customs dated June 30, 2017 is availed. 

• Gold bars, other than tola bars, bearing manufacturer’s or refiner’s engraved serial number and weight expressed in metric units. 

• Gold coins having gold content not below 99.5% and gold findings, other than imports of such goods through post, courier, or baggage. 

• Areca Nuts

The Table 1, 2 and 3 provided in the Notification will be substituted for the existing tables in its parent Notification. These tables contain the details about Chapter headings, descriptions of goods and tariff value.

[Noification No. 45/2021-CUSTOMS (N.T.)]

 


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