NOTIFICATION NO. 11/2014, DATED 14-02-2014

Tariff value of goods changed w.e.f. 14.02.2014

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION-3, SUB-SECTION (ii)]
Government of India
Ministry of Finance
(Department of Revenue)
(Central Board of Excise and Customs)

Notification No. 11/2014-CUSTOMS (N. T.)

 

New Delhi, 14th February, 2014
25 Magha, 1935 (SAKA)

 

S.O. … (E).– 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 Excise & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendment 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 866
2 1511 90 10 RBD Palm Oil 897
3 1511 90 90 Others – Palm Oil 882
4 1511 10 00 Crude Palmolein 895
5 1511 90 20 RBD Palmolein 898
6 1511 90 90 Others – Palmolein 897
7 1507 10 00 Crude Soyabean Oil 916
8 7404 00 22 Brass Scrap (all grades) 3913
9 1207 91 00 Poppy seeds 3195
 

 
 

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 321 and 323 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed 421 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 663 per kilogram   
 

TABLE-3

Sl. No. Chapter/ heading/ sub-heading/tariff item Description of goods Tariff value
(US $ Per Metric Tons )
(1) (2) (3) (4)
1 080280 Areca nuts 1872”
 

                                                [F. No. 467/01/2014-Cus-5]

 
 
 

(R. P. Singh)
Director to the Government of India.  

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. 08/2014-Customs (N.T.), dated the 31st January, 2014, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number  S. O 295 (E) Dated, the 31st January, 2014.
 
 

Opinion

This notification seeks to amend the notification no. 8/2014-Cus(N.T.) dt. 31/01/2014, wherein tariff value of goods has mentioned in Table-1, 2 and 3 have been changed. Tariff value is being determined by CBEC and such power has given under section 14(2) of the Customs Act, 1962 (52 of 1962). The tariff values of gold and silver have been increased while that of poppy seeds remains unchanged. The comparative analysis of the changes is being made as follows:

 

TABLE -1

Sl. No. Chapter/ heading/ sub-heading/tariff item Description of goods Tariff value US $
(Per Metric Tonne)
Prior Post
(1) (2) (3) (4)
1 1511 10 00 Crude Palm Oil 857 866
2 1511 90 10 RBD Palm Oil 880 897
3 1511 90 90 Others – Palm Oil 869 882
4 1511 10 00 Crude Palmolein 896 895
5 1511 90 20 RBD Palmolein 899 898
6 1511 90 90 Others – Palmolein 898 897
7 1507 10 00 Crude Soyabean Oil 917 916
8 7404 00 22 Brass Scrap (all grades) 3959 3913
9 1207 91 00 Poppy seeds 3195 3195
 

TABLE -2

Sl. No. Chapter/ heading/ sub-heading/tariff item Description of goods Tariff value
(US $)
(1) (2) (3) (4)
Prior Post
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 404 per 10 grams 421 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 635 per kilogram  663 per kilogram   
 
 
 

TABLE -3

Sl. No. Chapter/ heading/ sub-heading/tariff item Description of goods Tariff value
(US $ Per Metric Tons )
(1) (2) (3) (4)
Prior Post
1 080280 Areca nuts 1816” 1872

 

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