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        Customs

        CBIC exercised powers under Section 14(2) of Customs Act 1962 to...

        CBIC Revises Import Tariff Values Under Section 14(2) for Palm Oil, Gold, Silver, and Brass Scrap

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                CBIC exercised powers under Section 14(2) of Customs Act 1962 to revise tariff values for specified commodities. New values effective February 1, 2025, include: Crude Palm Oil at USD 1109/MT, RBD Palm Oil at USD 1158/MT, Brass Scrap at USD 5239/MT, Gold at USD 897/10g, and Silver at USD 1001/kg. The notification amends earlier tariff values established under Notification 36/2001-Customs (N.T.) and maintains Areca nuts value at USD 6448/MT. These revisions apply to imports and establish baseline values for customs duty assessment, ensuring standardized valuation across ports.
                                Note: It is a system-generated summary and is for quick reference only.
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