Custom Notification: Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold, and Silver:

Custom Notification: Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold, and Silver The Ministry of Finance (Department of Revenue) has recently issued a customs notification [946/2025-CUSTOMS (N.T.0)] dated July 15, 2025, informing that the Central Board of Indirect Taxes and Customs is convinced that it is significant and necessary to make some amendments. Hence, they are making revisions to an earlier Government of India notification [No. 36/2001-Customs (N.T.)], dated August 03, 2001, published in the Gazette of India, Extraordinary. The decision has been taken in exercise of the powers granted by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962). This rule enables CBIC to set or amend tariff values for certain imported goods.

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This earlier notification [No. 36/2001-Customs (N.T.)] contained tables listing tariff values for various imported goods. According to the made revision, the existing TABLE-1, TABLE-2, and TABLE-3 from the 2001 notification are replaced entirely by new tables. These tables specify the tariff values, which are essentially the minimum prices in US dollars per metric tonne for certain imported goods used to calculate customs duties. The notification states that these amendments will be made effective from July 16, 2025, the day after the notification date. Refer to the official notification to know the complete and detailed revisions introduced in the earlier notification.