Tariff value - CBEC's Customs Manual 2023 - Customs

2. Tariff value: 2.1 Board is empowered to fix values, under Section 14(2) of the Customs Act, 1962 for any item, which are called Tariff Values . If tariff values are fixed for any goods, ad valorem duties thereon are to be calculated with reference to such tariff values. The tariff values may be fixed for any class of imported or export goods having regard to the trend of value of such or like goods and the same have to be notified in the official gazette. Tariff values have presently been fixed in respect of import of Crude Palm Oil, RBD Palm Oil, Other Palm Oils, Crude Palmolein, RBD Palmolein, Other Palmoleins, Crude Soyabean Oil, Brass Scrap (all grades), Poppy Seeds, Areca Nuts, Gold and Silver. [Refer Notification No.36/2001-Cus. (NT), dated 3.8.2001 ]