Govt Revises Tariff Values for Palm Oils, Soybean Oil, Brass Scrap, Gold & Silver; New Rates Effective 1st August 2025:

Govt Revises Tariff Values for Palm Oils, Soybean Oil, Brass Scrap, Gold & Silver; New Rates Effective 1st August 2025

CBDT recently notifies dated July 31, under section 14 (2) of the Customs Act, 1962. The Central Board of Indirect Taxes and Customs, being satisfied that it is important and beneficial to do so, makes the below mentioned amendments in the notification of the Government of India in the Ministry of Finance dated August 3, 2001, published in the Gazette of India. This notification will come into effect from July 1, 2025.

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In the said notification, for Table-1, Table-2 and Table 3 the Below Mentioned Tables will be substituted:- Table 1-

Sl. No.	Chapter/Heading/Subheading/Tariff Item	Description of Goods	Tariff Value (US $ Per Metric Tonne)
1	1511 10 00	Crude Palm Oil	1012
2	1511 90 10	RBD Palm Oil	1035
3	1511 90 90	Others – Palm Oil	1024
4	1511 10 00	Crude Palmolein	1041
5	1511 90 20	RBD Palmolein	1044
6	1511 90 90	Others – Palmolein	1043
7	1507 10 00	Crude Soya bean Oil	1120
8	7404 00 22	Brass Scrap (all grades)	5591

Table 2-

Sl. No.	Chapter/Heading/Subheading/Tariff Item	Description of Goods	Tariff Value (US $)
1	71 or 98	Gold, in any form, in respect of which the benefit of entries at serial number 356 of the Notification No. 50/2017-Customs dated 30/06/2017 is availed	1063 per 10 grams
2	71 or 98	Silver, in any form, in respect of which the benefit of entries at serial number 357 of Notification No. 50/2017-Customs dated 30/06/2017 is availed	1224 per kilogram
3	71	(i) Silver, in any form, other than medallions and silver coins having silver content not below 99.9% or semi-manufactured forms of silver under sub-heading 7106 92; (ii) Medallions and silver coins having silver content not below 99.9% or semi-manufactured forms of silver falling under subheading  7106 92, other than imports via post, courier, or baggage.Explanation: Excludes foreign currency coins, silver Jewellery, or silver articles.	1224 per kilogram
4	71	(i) Gold bars (excluding tola bars) with manufacturer/refiner's engraved serial number and metric weight; (ii) Gold coins ≥99.5% purity and gold findings (excluding imports via post, courier, or baggage). Explanation: “Gold findings” are small components like hooks, clasps, clamps, etc., used in Jewellery.	1063 per 10 grams

Table 3-

Sl. No.	Chapter/Heading/Subheading/Tariff Item	Description of Goods	Tariff Value (US $ Per Metric Ton)
1	80280	Areca nuts	6970

To know more details of the above mentioned tables refer the below notification: