Tariff Value increased for Gold, Silver, Brass Scrap and Poppy Seeds
GOVERNMENT has increased the tariff values of Brass Scrap (all grades) from USD 4007 to USD 4078 and changed the tariff value of poppy seeds from USD 1970 to 2205.
The Tariff Value of Gold is increased from 526 to 556 USD per 10 grams and the tariff value of silver is increased from 953 to 1067 per kilogram. Tariff value was fixed for gold and silver only last month by Notification No. 2/2012-Cus(NT) dated 13th January 2012.
There is no change in the tariff value of other items.
Now Customs officers in our airports have to keep track of this notification. Maybe this notification and its latest amendments should be prominently displayed in all international airports, for the information of the passengers.
The Government should also publish the tariff values a couple of days before the effective date. The latest rates were said to be notified on 31 st January, but were made available only on 1 st February. God knows what happened to the gold brought in by passengers on 31 st January. Of course, in airports, when in doubt, they don't charge any duty - there are other means of getting through.
Notification No. , Dated : January 31, 2012