CBIC modifies Tariff Value for Edible Oil, Brass Scrap, Poppy Seeds, Areca Nut and Silver as on March 13, 2020

Mar 16, 2020 | by Avantis RegTech Legal Research Team


Finance & Taxation Compliance

The Central Board of Indirect Taxes and Customs (CBIC) on March 13, 2020, has amended the tariff Notification in respect of fixation of tariff value of the following goods:

Ø  Crude Palm Oil

Ø  RBD Palm Oil

Ø  Others-Palm Oil

Ø  Crude Palmolein

Ø  RBD Palmolein

Ø  Others – Palmolein

Ø  Crude Soya bean Oil

Ø  Brass Scrap (all grades)

Ø  Poppy Seeds

Ø  Gold in any Form, in respect of which the benefit of entries at serial number 356 of the Notification No. 50/2017-Customs dated June 30, 2017 is availed.

Ø  Silver in any Form, in respect of which the benefit of entries at serial number 357 of the Notification No. 50/2017-Customs dated June 30, 2017 is availed.

Ø  Areca Nuts

The Table 1, 2 and 3 provided in the Notification will be substituted for the existing tables in its parent Notification. These tables contain the details about Chapter headings, descriptions of goods and tariff value.

[Notification No. 24/2020-CUSTOMS (N.T.)]


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