Tariff Values of Gold and silver reduced
THE Government has decreased the Tariff values of Gold from 414 USD to 405 USD per 10 gms and Silver from 672 to 642 USD per kilogram with effect from 29.11.2013. Except the Tariff values of Crude Palm Oil and Areca Nuts which stay put, the tariff values of other items have been changed.
Incidentally, when the last time these values were changed by Notification 111/2013-Cus (NT) dated 14.11.2013, we had in DDT 2232 mentioned about the ‘cut & paste' monster playing havoc. Inasmuch as the notification said that the tariff value of silver will be 672 per kilogram ( i.e. no change ). But actually, THERE WAS change. It was 738 earlier and by the amending notification it was changed to 672! And the comment "No Change" should have appeared against Sr. no.9, Table 2 'Poppy Seeds'.
Be that as it may, in the instant notification, although the Tariff Value of Crude Palm Oil remains unchanged at 914, there is no such comment against this item. The comment, however, correctly appears against Areca Nuts.
The last time around, when we pointed the error through this column, an officer called us up and asked us why we were so finicky about such “small” errors and asked us to stick to reporting and not commenting! Sir, it is these “small” errors which get bigger day by day if not taken seriously. And by the way, let us tell you that the error continues to be exhibited on the CBEC website.
But, is this addition of “comment” in the notification really required?
Tariff values as on 14.11.2013 and with effect from 29 .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 | 914 | 914 (no change) |
2 | 1511 90 10 | RBD Palm Oil | 950 | 941 |
3 | 1511 90 90 | Others - Palm Oil | 932 | 928 |
4 | 1511 10 00 | Crude Palmolein | 957 | 949 |
5 | 1511 90 20 | RBDPalmolein | 960 | 952 |
6 | 1511 90 90 | Others -Palmolein | 959 | 951 |
7 | 1507 10 00 | Crude Soyabean Oil | 1023 | 1025 |
8 | 7404 00 22 | Brass Scrap (all grades) | 3995 | 3906 |
9 | 1207 91 00 | Poppy seeds | 2556 | 2781 |
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 | 414 per 10 grams | 405 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 | 672 per kilogram | 642 per kilogram |
Table 3
S. No. | Chapter/ heading/ sub-heading/tariff item | Description of goods | Tariff Value (USD Per Metric Tons) from 14.11.2013 | Tariff Value (USD Per Metric Tons) from 29.11.2013 |
|---|---|---|---|---|
(1) | (2) | (3) | (5) | (4) |
1 | 080280 | Areca nuts | 1707 | 1707 - No Change |
Notification No. , Dated: November 29, 2013