Tariff Values of Gold and silver reduced - Other items changed - 'Copy and Paste' Monster plays havoc
THE Government has decreased the Tariff values of Gold from 417 USD to 414 USD per 10 gms and Silver from 738 to 672 USD per kilogram with effect from 14.11.2013. Tariff values of other items except poppy seeds and areca nuts have been steeply hiked.
The Government's Notification says that the tariff value of silver will be 672 per kilogram (i.e. no change). But actually, THERE IS change. It was 738 earlier and is now 672! This is the 'copy and paste' monster at work. In fact, the comment "No Change" should have appeared against Sr. no.9, Table 2 'Poppy Seeds'.
Tariff values as on 12.11.2013 and with effect from 14.11.2013 are as under:
Table 1
S. No. | Chapter/ heading/ sub-heading/tariff item | Description of goods | Tariff value USD (Per Metric Tonne) | Tariff value USD(Per Metric Tonne) |
|---|---|---|---|---|
(1) | (2) | (3) | (5) | (4) |
1 | 1511 10 00 | Crude Palm Oil | 849 | 914 |
2 | 1511 90 10 | RBD Palm Oil | 893 | 950 |
3 | 1511 90 90 | Others - Palm Oil | 871 | 932 |
4 | 1511 10 00 | Crude Palmolein | 897 | 957 |
5 | 1511 90 20 | RBDPalmolein | 900 | 960 |
6 | 1511 90 90 | Others -Palmolein | 899 | 959 |
7 | 1507 10 00 | Crude Soyabean Oil | 1006 | 1023 |
8 | 7404 00 22 | Brass Scrap (all grades) | 3840 | 3995 |
9 | 1207 91 00 | Poppy seeds | 2556 | 2556 - No Change |
Table 2
S. No. | Chapter/ heading/ sub-heading/tariff item | Description of goods | Tariff value | Tariff value |
|---|---|---|---|---|
(1) | (2) | (3) | (5) | (4) |
1 | 71 or 98 | Gold, in any form in respect of which the benefit of entries at serial number 321 and 323 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed | 417 per 10 grams | 414 per 10 grams |
2 | 71 or 98 | Silver, in any form in respect of which the benefit of entries at serial number 322 and 324 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed | 738 per kilogram | 672 per kilogram |
Table 3
S. No. | Chapter/ heading/ sub-heading/tariff item | Description of goods | Tariff Value (USD Per Metric Tons) from 12.11.2013 | Tariff Value (USD Per Metric Tons) from 12.11.2013 |
|---|---|---|---|---|
(1) | (2) | (3) | (5) | (4) |
1 | 080280 | Areca nuts | 1707 | 1707 - No Change |
Notification No. , Dated: November 14, 2013