CBIC Notifies Revision of Tariff Values Under Customs Act, 1962

CBIC Notifies Revision of Tariff Values Under Customs Act, 1962

The Central Board of Indirect Taxes and Customs (CBIC) under the Ministry of Finance has recently issued a notification regarding amendments in tariff values in earlier notifications.

The CBIC using its power given under Section 14(2) of the Customs Act, 1962 has amended Notification No. 36/2001-Customs (N.T.) dated August 3, 2001, which was originally published in the Official Gazette of India on the same date.

Upon consideration of the matter, the Board determines that these changes are necessary and desirable in the public interest. The amendments specified in the new notification will now apply to the provisions of that earlier notification.

The following table will be replaced with the earlier table:

Sl. No.	Chapter/Heading/Sub-heading/Tariff Item	Description of Goods	Tariff Value (US$ Per Metric Tonne)
1	1511 10 00	Crude Palm Oil	1218
2	1511 90 10	RBD Palm Oil	1222
3	1511 90 90	Others – Palm Oil	1220
4	1511 10 00	Crude Palmolein	1230
5	1511 90 20	RBD Palmolein	1233
6	1511 90 90	Others – Palmolein	1232
7	1507 10 00	Crude Soyabean Oil	1244
8	7404 00 22	Brass Scrap (all grades)	7655

For complete information refer to the official notification