Tariff valuation adjustments for imported commodities establish new customs reference values guiding import valuation and assessment. The Central Board of Indirect Taxes & Customs substitutes prior tariff-value tables by fixing specified US dollar tariff values for edible oils, brass scrap, areca nut, and defined forms of gold and silver, under the authority of section 14(2) of the Customs Act, 1962; the amendment updates commodity descriptions, units of valuation, and explanatory exclusions and takes effect the day after publication.
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Tariff valuation adjustments for imported commodities establish new customs reference values guiding import valuation and assessment.
The Central Board of Indirect Taxes & Customs substitutes prior tariff-value tables by fixing specified US dollar tariff values for edible oils, brass scrap, areca nut, and defined forms of gold and silver, under the authority of section 14(2) of the Customs Act, 1962; the amendment updates commodity descriptions, units of valuation, and explanatory exclusions and takes effect the day after publication.
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