Govt. Revises Customs Tariff Values For These Commodities From May 16
Govt. Revises Customs Tariff Values For These Commodities From May 16
The Central Board of Indirect Taxes and Customs (CBIC) has announced revised customs tariff values for various imported goods, including edible oils, precious metals, and areca nuts. The new rates take effect from May 16.
The notification, issued under the authority of the Customs Act, 1962, updates tariff values previously set in Notification No. 36/2001-Customs (N.T.). The revised values reflect current international market trends and aim to streamline import taxation.
Edible Oils:
- Crude Palm Oil: $987 per metric tonne
- RBD Palm Oil: $1011 per metric tonne
- Crude Soya Bean Oil: $1070 per metric tonne
- Crude Palmolein: $1019 per metric tonne
Precious Metals:
- Gold: $1028 per 10 grams (when availing certain exemptions)
- Silver: $1065 per kilogram (with and without exemptions)
- Gold Coins and Findings: Also set at $1028 per 10 grams under specified conditions
Other Commodities:
- Brass Scrap: $5473 per metric tonne
- Areca Nuts: Unchanged at $6970 per metric tonne
Notification Details
Notification No. 34/2025-CUSTOMS (N.T.)
Date: 15th May, 2025
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Mariya is the Senior Editor at JurisHour. She has 5+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started as a freelance tax reporter in the leading online legal news companies like LiveLaw & Taxscan.
