Customs Duty on Both Crude and Edible Grades Oils Hiked
to 2.5% from Nil
·
Near
Doubling of Tariff Value to Market Value
·
Total
Impact 5% plus on Invoice Value
·
Our
Calculations Show Government to Raise Rs. 2300 crs Customs Revenue on 2011-12 base of Rs.
46,451 crs Import of Vegetable Oils
[Ref:
Notification No. 02/2013-Customs dated 23 January 2013]
In exercise of the powers conferred by sub-section (1) of
section 25 of the Customs Act, 1962 (52 of 1962), the
Central Government, being satisfied that it is necessary in the public interest
so to do, hereby makes the following further amendments in the notification of
the Government of India in the Ministry of Finance (Department of Revenue), No.
12/2012-Customs, dated the 17th
March, 2012 which was published in the Gazette of India, Extraordinary,
vide G.S.R. 185(E), dated the 17th March, 2012, namely: -
In the said notification, in the Table,-
(i)
against S.No.51, for the entries occurring in
column (4) against clauses (A), (B) and (C) of item II of column (3), the entry
2.5% shall respectively be
substituted;
(ii)
against S.No.55, for the
entry in column (4), the entry 2.5%
shall be substituted;
(iii)
against S.No.57, for the
entry in column (4), the entry 2.5%
shall be substituted;
(iv) against S.No. 62, for the entry in column (4), the entry 2.5% shall be substituted;
(v)
against S.No. 65, for the
entry in column (4), the entry 2.5%
shall be substituted.
[F.
No. 354/203/2012-TRU]
Tariff Value Notification
[Ref: Notification
No. 08/2013 Customs (N. T.) dated 23 January 2013]
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 and TABLE-2, the following Tables shall be
substituted namely:-
|
Table-1 |
|||
|
S. 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 |
802 |
|
2 |
1511 90 10 |
RBD Palm Oil |
853 |
|
3 |
1511 90 90 |
Others Palm Oil |
828 |
|
4 |
1511 10 00 |
Crude Palmolein |
860 |
|
5 |
1511 90 20 |
RBD Palmolein |
863(i.e.
no change) |
|
6 |
1511 90 90 |
Others Palmolein |
862 |
|
7 |
1507 10 00 |
Crude Soyabean Oil |
1190 |
|
8 |
7404 00 22 |
Brass Scrap (all grades) |
4106(i.e.
no change) |
|
9 |
1207 91 00 |
Poppy seeds |
4395(i.e.
no change) |
|
Table-2 |
|||
|
S. 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 |
542 per
10 grams (i.e. no change) |
|
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 |
999 per
kilogram (i.e. no change) |
[F. No. 467/01/2013-Cus.-V]