Home » Finance » Tariff Notification No. 71/2020-Cutoms (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver

Tariff Notification No. 71/2020-Cutoms (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver

In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated the 3rd August, 2001, namely:-

In the said notification, for TABLE-1, TABLE-2, and TABLE-3 the following Tables shall be substituted, namely: –

“TABLE-1

Sl. No. Chapter/ heading/ sub-heading/tariff item Description of goods Tariff value

(US $Per Metric Tonne)

(1) (2) (3) (4)
1 1511 10 00 Crude Palm Oil 680 (i.e. no change)
2 1511 90 10 RBD Palm Oil 701 (i.e. no change)
3 1511 90 90 Others – Palm Oil 691 (i.e. no change)
4 1511 10 00 Crude Palmolein 707 (i.e. no change)
5 1511 90 20 RBD Palmolein 710 (i.e. no change)
6 1511 90 90 Others – Palmolein 709 (i.e. no change)
7 1507 10 00 Crude Soya bean Oil 803 (i.e. no change)
8 7404 00 22 Brass Scrap (all grades) 3717 (i.e. no change)
9 1207 91 00 Poppy seeds 3623 (i.e. no change)

 

TABLE-2

Sl. No. Chapter/ heading/ sub-heading/tariff item Description of goods Tariff value

(US $)

(1) (2) (3) (4)
1. 71 or 98 Gold, in any form, in respect of which the benefit of entries at serial number 356 of the Notification No. 50/2017-Customs dated 30.06.2017 is availed 622 per 10 grams
2. 71 or 98 Silver, in any form, in respect of which the benefit of entries at serial number 357 of the Notification No. 50/2017-Customs dated 30.06.2017 is availed 868 per kilogram (i.e. no change)
 

3.

71 (i) Silver, in any form, other than medallions and silver coins having silver content not below 99.9% or semi-manufactured forms of silver falling under sub-heading 7106 92;

 

(ii) Medallions and silver coins having silver

content not below 99.9% or semi-manufactured forms of silver falling under sub-heading 7106 92, other than imports of such goods through post, courier or baggage.

 

Explanation. – For the purposes of this entry, silver in any form shall not include foreign

currency coins, jewellery made of silver or

articles made of silver.

868 per kilogram (i.e. no change)

 

4. 71 (i) Gold   bars, other   than   tola   bars, bearing manufacturer’s or refiner’s engraved serial number and weight expressed in metric units;

(ii) Gold coins having gold content not below 99.5% and gold findings, other than imports of such goods through post, courier or baggage.

Explanation. – For the purposes of this entry, “gold findings” means a small component such as hook, clasp, clamp, pin, catch, screw back used to hold the whole or a part of a piece of Jewellery in place.

622 per 10 grams

TABLE-3

Sl. No. Chapter/ heading/ sub-heading/tariff item Description of goods Tariff value

(US $ Per Metric Tonne)

(1) (2) (3) (4)
1 080280 Areca nuts 3746 (i.e. no change)”

 

 

Note: – The principal notification was published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide Notification No. 36/2001–Customs (N.T.), dated the 3rd August, 2001, vide number S. O. 748 (E), dated the 3rd August, 2001 and was last amended vide Notification No. 70/2020-Customs (N.T.), dated the 7th August, 2020, e-published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S.O. 2649 (E), dated 7th August, 2020.

About IIPnews

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

Four more States complete ease of doing business reforms; Get additional borrowing permission of Rs. 5,034 crore

So far, 12 States have implemented ease of doing business reforms and have got additional ...

National Research Foundation Outlay to be Rs 50,000 crore, over 5 years

To strengthen the overall research ecosystem of the country, the Union Budget FY 2021-22 announced a ...

Summary of the Budget 2021-22

  PART-A The Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman presented the ...

Decriminalisation of the Limited Liability Partnership (LLP) Act, 2008 proposed

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman proposed reforms for small companies ...

Union Finance Minister says Every Possible Measure shall be taken to smoothen the GST

With an aim to rationalize custom duty structure, ease compliance and give impetus to domestic ...

India is expected to witness current account surplus after a gap of 17 Years

Covid-19 pandemic has triggered the worst global recession in 2020 since the Great Depression; the ...

India must continue to focus on Economic Growth to Alleviate Poverty: Economic Survey 2020-21 “Given ...

Grant of Rs.12,351 crore released for Rural Local Bodies

The Department of Expenditure, Ministry of Finance has released an amount of Rs.12,351.5 crore to ...

13th Instalment of Rs.6,000 crore released to the States to meet the GST compensation shortfall

The Ministry of Finance, Department of Expenditure has released the 13th weekly instalment of Rs. 6,000 ...

Projects of Rs.10,657 crore in 27 States have been approved so far under the “Scheme for financial assistance to States for capital projects”

Madhya Pradesh has become the first State to get additional funds for capital projects for ...

WP2Social Auto Publish Powered By : XYZScripts.com