CBIC Releases Revised Table for Import Valuation Under Customs Act 1962:

CBIC Releases Revised Table for Import Valuation Under Customs Act 1962 The Central Board of Indirect Taxes and Customs (CBIC) under the Ministry of Finance (Department of Revenue) recently shared a notification on November 28, 2025, regarding amendments in the notification of the Government of India. In pursuance of the powers given under Section 14(2) of the Customs Act, 1962, the government department in charge of customs (the Central Board of Indirect Taxes & Customs) changes certain rules related to how the value of imported goods is calculated. Using this power, the department has decided that it is necessary to make some changes to an earlier notification (No. 36/2001-Customs) that was originally issued on August 3, 2001.

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In the said notification for Table-1, the following Table will be replaced:

Chapter/ heading/ sub-heading/tariff item	Description of goods	Tariff value (US $Per Metric Tonne)
1511 10 00	Crude Palm Oil	1044
1511 90 10	RBD Palm Oil	1081
1511 90 90	Others - Palm Oil	1063
1511 10 00	Crude Palmolein	1088
1511 90 20	RBD Palmolein	1091
1511 90 90	Others - Palmolein	1090
1507 10 00	Crude Soya bean Oil	1173
7404 00 22	Brass Scrap (all grades)	6161