India revises import tariff values for Gold, Silver, Palm Oil and Soybean oil - DETAILS

India’s Central Board of Indirect Taxes and Customs (CBIC) has revised the tariff values applicable to key imported commodities, including gold, silver, crude palm oil and crude soybean oil.

As per the latest notification issued by the tax authority, the tariff value of gold in all forms has been fixed at USD 1508 per 10 grams. The revised rates will be used for the calculation of customs duties on imports.

The tariff value for silver, in all forms, has been updated to USD 2810 per kilogram.

Among edible oils, the government has also revised the benchmark import prices for crude palm oil and crude soybean oil. Crude palm oil will now attract a tariff value of $1,205 per metric tonne, while crude soybean oil has been valued at USD 1256 per metric tonne.

Tariff values are reviewed periodically by the government in line with global price movements and market conditions. These revisions play a key role in determining the customs duty payable on imported goods.

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