Tariff value fixation under Customs Act updates commodity-specific import valuation affecting palm oils, soyabean oil and brass scrap. Under sub-section (2) of Section 14 of the Customs Act, 1962, the Board amends the principal notification by substituting the existing Table with a new Table that fixes US dollar tariff values per metric tonne for specified commodity headings, including palm oil and palmolein categories, crude soyabean oil and brass scrap, thereby establishing the benchmark import valuation for those goods.
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Tariff value fixation under Customs Act updates commodity-specific import valuation affecting palm oils, soyabean oil and brass scrap.
Under sub-section (2) of Section 14 of the Customs Act, 1962, the Board amends the principal notification by substituting the existing Table with a new Table that fixes US dollar tariff values per metric tonne for specified commodity headings, including palm oil and palmolein categories, crude soyabean oil and brass scrap, thereby establishing the benchmark import valuation for those goods.
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