31 July 2024

The Central Board of Indirect Taxes & Customs has issued Notification No. 53/2024-Customs (N.T.), effective August 1, 2024, amending the tariff values for several goods. The revised values include updates for Palm Oil, Palmolein, Soya bean Oil, and Brass Scrap in Table-1. Table-2 specifies new tariff values for Gold and Silver, detailing their various forms. Table-3 maintains the existing tariff value for Areca nuts. These changes are implemented under the Customs Act, 1962, to reflect current market conditions and align with the latest economic data.