Finance Ministry Updates Customs Tariff Values for Palm Oil, Soya Bean Oil, Gold and Silver, and Areca Nuts
The Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 17/2025-Customs (N.T.) on March 28, 2025, revising tariff values for key imported commodities, effective March 29, 2025. Notable adjustments include decreases in tariff values for crude palm oil (now $1,158/MT) and crude soybean oil (now $1,064/MT), while brass scrap has increased to $5,698/MT. Gold and silver have seen tariff value increases to $984 per 10g and $1,102/kg, respectively. The tariff value for areca nuts remains unchanged at $8,140/MT.
The Central Board of Indirect Taxes and Customs ( CBIC ) under the Ministry of Finance issued Notification No. 17/2025-Customs (N.T.), dated March 28, 2025, updating the tariff values for imported goods such as edible oils, brass scrap, gold, silver, and areca nuts. These revised rates will come into effect from March 29, 2025.
The tariff values for all major edible oils have been reduced, continuing the trend from the previous update. These include Crude Palm Oil, RBD Palm Oil, Other Palm Oils, Crude Palmolein, RBD Palmolein, and Other Palmolein. The tariff value for Crude Soybean Oil has also come down.
Interestingly, Brass Scrap (all grades), which had seen a drop in the last notification, has now seen a slight increase in its tariff value.
On the other hand, tariff values for gold and silver have increased across all categories, reversing the decrease seen in the previous update. The tariff value for areca nuts remains unchanged at $8140 per metric tonne.
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Source : Tax Scan
