A recent notification by the Ministry of Finance, Department of Revenue, amends tariff values for...

A recent notification by the Ministry of Finance, Department of Revenue, amends tariff values for various goods under the Customs Act, 1962. The notification replaces existing tables with new tariff values for products such as edible oils, brass scrap, areca nuts, gold, and silver. These changes, effective from June 29, 2024, impact the valuation of goods for customs purposes. The notification, issued under the powers of the Customs Act, aims to update and align tariff values with prevailing market conditions. .....

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