The Central Board of Indirect Taxes and Customs (CBIC) has notified the fixation of tariff value of edible oils, brass scrap, areca nut, gold and silver.
The CBIC has announced revised tariff values for key imported commodities through Notification No. 13/2025-CUSTOMS (N.T.). The changes, made under the powers conferred by the Customs Act, 1962, will come into effect from March 14, 2025.
The tariff values for edible oils have been adjusted, impacting imports of palm and soybean oil. As per the latest notification, the tariff value for Crude Palm Oil has been set at $1169 per metric tonne (MT), while RBD Palm Oil will now be valued at $1172 per MT. Meanwhile, Crude Soybean Oil has been priced at $1098 per MT. These changes are expected to affect the edible oil industry, influencing domestic prices and supply chains.
In the metals category, Brass Scrap will now have a revised tariff value of $5438 per MT, reflecting global market fluctuations and trade conditions.
For precious metals, the tariff value for Gold (under specific customs notification benefits) has been set at $941 per 10 grams, while Silver will be valued at $1067 per kilogram. These adjustments could impact the jewelry and bullion markets, affecting import costs and consumer pricing.
The notification also confirms that the tariff value for Areca Nuts remains unchanged at $8140 per MT. This stability in pricing may provide relief to traders and businesses dealing with areca nut imports.
Notification Details
Notification No. 13/2025-CUSTOMS (N.T.)
Date: 13/03/2025
