Tariff Value of Gold, Silver reduced - steep reduction in oils
THE Government has decreased the Tariff value of Gold from 420 USD to 400 USD per 10 gms. The tariff value of Silver has decreased from 645 to 609 USD per kilogram. Tariff Values of oils have also been reduced. Tariff value of Brass scrap has been decreased. However, the Tariff value of Poppy Seeds and areca nuts remain unchanged. The Tariff values as on 29.08.2014 and with effect from 15.09.2014 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) | (6) |
1 | 1511 10 00 | Crude Palm Oil | 743 | 722 |
2 | 1511 90 10 | RBD Palm Oil | 752 | 728 |
3 | 1511 90 90 | Others - Palm Oil | 748 | 725 |
4 | 1511 10 00 | Crude Palmolein | 771 | 731 |
5 | 1511 90 20 | RBDPalmolein | 774 | 734 |
6 | 1511 90 90 | Others -Palmolein | 773 | 733 |
7 | 1507 10 00 | Crude Soyabean Oil | 890 | 845 |
8 | 7404 00 22 | Brass Scrap (all grades) | 4077 | 4060 |
9 | 1207 91 00 | Poppy seeds | 3429 | 3429 (No change) |
Table 2 | ||||
S. No. | Chapter/ heading/ sub-heading/tariff item | Description of goods | Tariff value USD | Tariff value USD |
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. | 420 per 10 grams | 400 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. | 645 per kilogram | 609 per kilogram |
Table 3 | ||||
S. No. | Chapter/ heading/ sub-heading/tariff item | Description of goods | Tariff value USD (Per Metric Tons) | Tariff value USD (Per Metric Tons) |
1 | 080280 | Areca nuts | 2017 | 2017 No change |
Notification No. , Dated: September 15, 2014