Tariff value fixation for specified edible oils, brass scrap, gold, silver and areca nut alters customs valuation basis. The Central Board of Indirect Taxes & Customs, under section 14(2) of the Customs Act, 1962, substitutes TABLE-1, TABLE-2 and TABLE-3 in the principal non-tariff notification to fix tariff values for specified imports. The substituted tables prescribe USD tariff values per metric tonne or per unit for categories including edible oils (various palm oil and soybean oil grades), brass scrap (all grades), gold and silver in specified forms (with explanations), and areca nut. The amendment is effective from 1 October 2022.
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Tariff value fixation for specified edible oils, brass scrap, gold, silver and areca nut alters customs valuation basis.
The Central Board of Indirect Taxes & Customs, under section 14(2) of the Customs Act, 1962, substitutes TABLE-1, TABLE-2 and TABLE-3 in the principal non-tariff notification to fix tariff values for specified imports. The substituted tables prescribe USD tariff values per metric tonne or per unit for categories including edible oils (various palm oil and soybean oil grades), brass scrap (all grades), gold and silver in specified forms (with explanations), and areca nut. The amendment is effective from 1 October 2022.
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