New Customs Tariffs for Oil, Gold, Silver In Effect

The Central Board of Indirect Taxes and Customs (CBIC), under the Ministry of Finance, has announced a fresh revision of tariff values on a range of imported commodities namely Edible Oils, Precious Metals, and Areca Nuts, which take effect from June 14, 2025.

This notification replaces existing tariff values with updated rates across three primary tables, covering essential imports such as edible oils, precious metals (gold and silver), brass scrap, and areca nuts.

Key Highlights of the Revised Tariff Values

Edible Oils (Table-1)

• Crude Palm Oil: USD 991/MT
• RBD Palm Oil: USD 1026/MT
• Crude Palmolein: USD 1027/MT
• RBD Palmolein: USD 1030/MT
• Crude Soybean Oil: USD 1063/MT

These updates reflect CBIC’s regular review of international market conditions to maintain tariff alignment with global prices.

Precious Metals (Table-2)

• Gold (including bars and coins): USD 1092 per 10 grams
• Silver: USD 1171 per kilogram

In addition, specific formats of silver and gold — such as medallions, coins, and “gold findings” used in jewelry — have been defined in the notification with relevant tariff rates and clarifications on exclusions (e.g., foreign currency coins and silver jewelry).

Other Commodities (Table-3)

• Areca Nuts: USD 6970/MT

This is a significant rate for a key agricultural import, often monitored for quality and declared value.

Legal and Administrative Background

The revised values amend the original Notification No. 36/2001-Customs (N.T.) dated August 3, 2001, and follow the most recent amendment via Notification No. 42/2025-CUSTOMS (N.T.) dated June 11, 2025. The revision is part of CBIC’s fortnightly exercise to ensure that tariff values used for calculating import duties are consistent with prevailing market realities.

Notification Details

Notification No. F. No. 467/01/2025-Cus.V

Date: 13/06/2025

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Mariya Paliwala

Mariya is the Senior Editor at Juris Hour. 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.

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