CBIC amends tariff values for edible oils, brass scrap, gold, silver under Section 14(2) effective July 2025

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....The Central Board of Indirect Taxes & Customs issued Notification No. 44/2025-Customs (N.T.) under Section 14(2) of the Customs Act, 1962, amending tariff values for specified commodities effective July 1, 2025. The notification substituted existing tables in the principal notification No. 36/2001-Customs (N.T.) with revised tariff values for edible oils including crude palm oil ($1006/MT), RBD palmolein ($1047/MT), crude soya bean oil ($1095/MT), brass scrap ($5563/MT), gold ($1054/10 grams), silver ($1164/kg), and areca nuts ($6970/MT unchanged). The amendment exercises statutory powers to fix tariff values for customs valuation purposes, ensuring standardized assessment of import duties on these commodities.....