CBIC Updates Tariff Values: New Rates for Edible Oils, Brass Scrap, Gold, and Silver Effective Nov 30, 2024.

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....This notification Issued by CBIC amends the tariff values for certain imported goods effective November 30, 2024, u/s 14(2) of the Customs Act, 1962. The key amendments are: 1) Revised tariff values for import of various edible oils like crude palm oil ($1119/MT), RBD palm oil ($1127/MT), crude palmolein ($1129/MT), RBD palmolein ($1132/MT), and crude soyabean oil ($1117/MT). 2) Tariff value for brass scrap (all grades) has been fixed at $5220 per metric ton. 3) For gold, two tariff value slabs: - $850 per 10 grams for forms availing exemption under Notification 50/2017 - $850 per 10 grams for gold bars (excluding tola bars), coins over 99.5% purity, and gold findings 4) For silver, three value slabs: - $978/kg for forms availing exemption under Notification 50/2017 - $978/kg for silver excluding coins/medallions over 99.9% purity and semi-manufactured forms.....