Customs : The Central Board of Indirect Taxes and Customs (CBIC) has amended Notification No. 36/2001-Customs (N.T.) to revise the tariff values of certain imported goods. The revised values, effective from 16th May 2025, apply to various commodities including crude and refined edible oils (such as palm oil, palmolein, and soya bean oil), brass scrap, gold, silver, and areca nuts. Notably, the tariff values for gold have been fixed at USD 1028 per 10 grams and for silver at USD 1065 per kilogram, with similar rates applied across different forms of these metals. The tariff value for areca nuts remains unchanged at USD 6970 per metric tonne. These changes have been made under the powers granted by Section 14(2) of the Customs Act, 1962, to ensure appropriate valuation for the purpose of levying customs duty. This notification shall come into force with effect from the 16th day of May 2025. (17.05.2025)

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The Central Board of Indirect Taxes and Customs (CBIC) has amended Notification No. 36/2001-Customs (N.T.) to revise the tariff values of certain imported goods. The revised values, effective from 16th May 2025, apply to various commodities including crude and refined edible oils (such as palm oil, palmolein, and soya bean oil), brass scrap, gold, silver, and areca nuts. Notably, the tariff values for gold have been fixed at USD 1028 per 10 grams and for silver at USD 1065 per kilogram, with similar rates applied across different forms of these metals. The tariff value for areca nuts remains unchanged at USD 6970 per metric tonne. These changes have been made under the powers granted by Section 14(2) of the Customs Act, 1962, to ensure appropriate valuation for the purpose of levying customs duty. This notification shall come into force with effect from the 16th day of May 2025.

(Notification No. 34/2025-Customs (N.T.) dated 15th May 2025)