In exercise of the powers conferred by Sub–section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary and expedient so to do, hereby fixes the tariff value specified in column (4) of the Table below, in respect of the imported goods of the description specified in the corresponding entry in column (3) of the said table and falling under Chapter or heading or sub-heading No. of the first schedule to the Customs Tariff Act, 1975 (51 of 1975), as is specified in the corresponding entry in column (2) of the said Table, having regard to the trend of the value of such or like goods and makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue ), No. 36/2001-Customs (N.T.) dated the 3rd August , 2001 published vide number S.O. 748 (E) dated the 3rd August , 2001 Namely :-

In the said notification, after “TABLE-2”, the following Table shall be inserted, namely:

TABLE-3

DSM/RS/ka

(Release ID :96802)

Tariff value notification for areca nuts updated, altering import valuation and customs assessment under customs law. The Central Government, exercising the power under Sub-section (2) of section 14 of the Customs Act, 1962, fixes the tariff value for imported areca nuts and inserts a new Table 3 into Notification No. 36/2001 Customs (N.T.), specifying the tariff value in US dollars per metric ton to be applied for customs valuation of areca nuts.