High import tariffs set for edible oils, gold, silver, and scrap metal
The Central Board of Indirect Taxes and Customs exercises powers u/s 14(2) of the Customs Act, 1962 to revise the tariff values for import of certain goods.
It substitutes new tablesspecifying tariff values for edible oils like crude palm oil, RBD palm oil, crude palmolein, RBD palmoleincrude soyabean oil, and brass scrap.
It also prescribes tariff values for import of gold and silver in different forms like bars, coins, medallions and semi-manufactured forms availing exemptions under specified notifications. The tariff value for areca nuts remains unchanged.
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