Tariff Value of Gold & Silver increased
THE Government has increased the Tariff value of Gold from 392 USD to 407 USD per 10 gms and that of Silver from 638 to 663 USD per kilogram with effect from 15.01.2014. So, we will have more seizures of Gold and Silver in the days to come.
The Tariff Value of Brass scrap has been increased whereas that of Oils has been reduced. There is no change in the tariff value of Poppy Seeds and Areca nuts.
Incidentally, against the stagnant values of Poppy Seeds and Areca Nuts what is missing is the oft-misplaced comment 'No change'. It is good that the Board has done away with that. In fact , had suggested this.
The Tariff values as on 31.12.2013 and with effect from 15 .01.2014 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 | 892 | 877 |
2 | 1511 90 10 | RBD Palm Oil | 922 | 897 |
3 | 1511 90 90 | Others - Palm Oil | 907 | 887 |
4 | 1511 10 00 | Crude Palmolein | 925 | 899 |
5 | 1511 90 20 | RBDPalmolein | 928 | 902 |
6 | 1511 90 90 | Others -Palmolein | 927 | 901 |
7 | 1507 10 00 | Crude Soyabean Oil | 958 | 944 |
8 | 7404 00 22 | Brass Scrap (all grades) | 3940 | 3995 |
9 | 1207 91 00 | Poppy seeds | 3195 | 3195 |
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 | 392 per 10 grams | 407 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 | 638 per kilogram | 663 per kilogram |
Table 3
S. No. | Chapter/ heading/ sub-heading/tariff item | Description of goods | Tariff Value (USD Per Metric Tons) from 31.12.2013 | Tariff Value (USD Per Metric Tons) from 15.01.2014 |
|---|---|---|---|---|
(1) | (2) | (3) | (5) | (4) |
1 | 080280 | Areca nuts | 1816 | 1816 |
Notification No. , Dated: January 15, 2014