Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver - 120/2016 - Customs - Non Tariff
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Tariff value fixation updates applied to specified imported commodities, altering customs valuation and import assessment. Under section 14(2) of the Customs Act, 1962, the Central Board of Excise & Customs substitutes TABLE 1, TABLE 2 and TABLE 3 of Notification No. 36/2001 Customs (N.T.) to fix tariff values as administrative benchmark values for customs assessment: TABLE 1 lists per metric tonne values for edible oils, crude soybean oil, brass scrap and poppy seeds; TABLE 2 prescribes per unit values for gold and silver where specified notification benefits are availed; TABLE 3 fixes a per metric tonne value for areca nuts.
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Provisions expressly mentioned in the judgment/order text.
Tariff value fixation updates applied to specified imported commodities, altering customs valuation and import assessment.
Under section 14(2) of the Customs Act, 1962, the Central Board of Excise & Customs substitutes TABLE 1, TABLE 2 and TABLE 3 of Notification No. 36/2001 Customs (N.T.) to fix tariff values as administrative benchmark values for customs assessment: TABLE 1 lists per metric tonne values for edible oils, crude soybean oil, brass scrap and poppy seeds; TABLE 2 prescribes per unit values for gold and silver where specified notification benefits are availed; TABLE 3 fixes a per metric tonne value for areca nuts.
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