Customs Tariff Amendment Adjusts Valuation for Edible Oils, Metals, and Agricultural Commodities Under Section 14(2)

Customs Tariff Amendment Adjusts Valuation for Edible Oils, Metals, and Agricultural Commodities Under Section 14(2) https://www.taxtmi.com/highlights?id=88963 The notification amends tariff values for various goods, including edible oils, brass scrap, areca nuts, gold, and silver, effective 31 May 2025. The Central Board of Indirect Taxes & Customs exercises powers under section 14(2) of the Customs Act, 1962 to substitute TABLE-1, TABLE-2, and TABLE-3 with updated tariff values. Key modifications include new tariff values for crude palm oil (965 US$/MT), RBD palm oil (1018 US$/MT), brass scrap (5483 US$/MT), gold (1067 US$/10 grams), silver (1080 US$/kg), and areca nuts (6970 US$/MT), reflecting current market conditions and regulatory adjustments in customs valuation. en-us Sat, 31 May 2025 13:56:32 +0530 Sat, 31 May 2025 13:56:31 +0530 TaxTMI RSS Generator Customs Tariff Amendment Adjusts Valuation for Edible Oils, Metals, and Agricultural Commodities Under Section 14(2) https://www.taxtmi.com/highlights?id=88963 The notification amends tariff values for various goods, including edible oils, brass scrap, areca nuts, gold, and silver, effective 31 May 2025. The Central Board of Indirect Taxes & Customs exercises powers under section 14(2) of the Customs Act, 1962 to substitute TABLE-1, TABLE-2, and TABLE-3 with updated tariff values. Key modifications include new tariff values for crude palm oil (965 US$/MT), RBD palm oil (1018 US$/MT), brass scrap (5483 US$/MT), gold (1067 US$/10 grams), silver (1080 US$/kg), and areca nuts (6970 US$/MT), reflecting current market conditions and regulatory adjustments in customs valuation. Highlights Customs Sat, 31 May 2025 13:56:32 +0530 https://www.taxtmi.com/highlights?id=88963