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

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....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.....