Fixation of Tariff Value under Section 14(2) of the Customs Act, 1962 on Crude Palm Oil, RBD Palm Oil, RBD Palmolein, Crude Palmolein & Brass Scrap (all grades) - Customs - 4/2002

OFFICE OF THE COMMISSIONER OF CUSTOMS (IMPORT) New Custom House, Ballard Estate Mumbai 400038 File No. S/26-290/99 A (G) Pt-I Date: 09.01.2002 Public Notice No. 4/2002 Sub :- Fixation of Tariff Value under Section 14(2) of the Customs Act, 1962 on Crude Palm Oil, RBD Palm Oil, RBD Palmolein, Crude Palmolein Brass Scrap (all grades). Attention of the Trade, Importers, CHAs and other concerned in invited to Board's Notification No. 62/2001-Cus- (NT) dated 07.12.2001 effective from 07.12.001 amending Notification No. 36/2001 Custom dated 3.8.2001 according to which Tariff value for Crude Palm Oil has been fixed at US$ 314 (Three hundred fourteen) PMT, RBD Palm Oil at US$ 341 (Three hundred forty one) PMT, RBD Palmolein at US$ 349 (Three hundred forty nine) PMT, Crude Palmolein at US$ 334 (Three hundred thirty four) PMT Brass Scrap ( all grades ) at US$1030 ( One thousand Thirty) PMT in terms Section 14(2) of Customs Act,1962. 2. The valuation of the specified goods would have to be done in terms of this Notification and not as per the definition of value under Section 14(1) read with Section 14(1A) of the Customs Act 1962. Under section 15(1) of the Customs Act, 1962 the tariff valuation applicable in the case of goods cleared from a warehouse under Section 68 shall be the tariff value in force on the date on which the goods are actually removed from the warehouse. The tariff value fixed under the said Notification shall, therefore, be applicable to the goods cleared from a Bonded Warehouse on or after 07.12.2001. It should also be noted that where the Tariff value has been fixed in the respect of any goods, the duty leviable on Advalorum basis is required to be levied on such tariff values without any further addition of Freight, Insurance, Landing Charges etc. A copy of the Notification No. 62/2001-Cus- (NT) dated 07.12.2001 is given on the reverse. Sd/- (M. C. THAKUR) COMMISSIONER OF CUSTOMS (IMPORT) NEW CUSTOM HOUSE, MUMBAI