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FOB transaction value and export incentives: customs valuation cannot override contractual export benefits or support confiscation without valid proof...
The customs notification amends Notification No. 57/2000-Customs by substituting the rate entry in the table against Sl. No. 1, column (4), so that the existing 4.35% duty on gold, silver and platinum imported under the specified schemes is replaced with 10%. The amendment is issued under section 25(1) of the Customs Act, 1962 and takes effect from 13 May 2026, thereby increasing the applicable import duty rate for the covered imports.
The customs notification amends Notification No. 57/2000-Customs by substituting the rate entry in the table against Sl. No. 1, column (4), so that the existing 4.35% duty on gold, silver and platinum imported under the specified schemes is replaced with 10%. The amendment is issued under section 25(1) of the Customs Act, 1962 and takes effect from 13 May 2026, thereby increasing the applicable import duty rate for the covered imports.
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