On November 14, 2025, the Central Board of Indirect Taxes and Customs (CBIC) issued Notification No. 74/2025-Customs (N.T.), introducing significant amendments to tariff values under the Customs Act, 1962. These changes, effective from November 15, 2025, revise the tariff values applicable to a range of imported commodities including edible oils, precious metals, brass scrap, and areca nuts. This periodic revision—carried out under Section 14(2) of the Customs Act—is intended to align tariff values with global price movements and ensure fair tax assessment at the border.
Why Tariff Value Revisions Matter
Tariff values are fixed values used for calculating customs duty on certain imports, irrespective of the declared transaction value. This mechanism is typically applied to volatile commodities such as edible oils, precious metals, and scrap materials. By revising these values, the government ensures stability, transparency, and predictability in customs assessments while safeguarding revenue.
Key Highlights from the Notification
The latest notification replaces Table-1, Table-2, and Table-3 of the earlier 2001 notification with updated tariff values. Here’s a breakdown of the major changes:
1. Edible Oils and Brass Scrap: Updated Tariff Values
Table-1 introduces revised tariff values for a range of edible oils, including palm oil, palmolein, and soybean oil. The new values (per metric tonne in USD) include:
- Crude Palm Oil – USD 1066
- RBD Palm Oil – USD 1084
- Crude Palmolein – USD 1088
- RBD Palmolein – USD 1091
- Crude Soybean Oil – USD 1159
Additionally, Brass Scrap (all grades) now carries a tariff value of USD 6163 per metric tonne, reflecting global price conditions.
These adjustments are particularly significant for industries dependent on edible oil imports, such as food processing, cosmetics, and hospitality, as well as manufacturing sectors relying on brass scrap.
2. Gold and Silver: Revised Tariff Values for Precious Metals
Table-2 updates tariff values for gold and silver in various forms. Key changes include:
- Gold (in any eligible form) – USD 1350 per 10 grams
- Silver (in any eligible form) – USD 1739 per kilogram
The notification also provides detailed classifications distinguishing between coins, medallions, semi-manufactured forms, and items excluded from the tariff regime such as jewellery and foreign currency coins. These revisions impact bullion traders, jewellers, and importers operating under Notification No. 45/2025-Customs.
3. Areca Nuts: Tariff Value Unchanged
Interestingly, Table-3 retains the existing tariff value for areca nuts, keeping it unchanged at USD 7142 per metric tonne. Stability in this segment suggests consistent market conditions for this widely traded commodity.
Effective Date and Legal Background
The revised tariff values come into force on November 15, 2025. This notification builds on the principal Notification No. 36/2001-Customs (N.T.) and follows the previous amendment issued on October 31, 2025.
Conclusion
CBIC’s latest tariff value revision reflects India’s continued effort to maintain a dynamic and transparent customs valuation framework. By aligning tariff values with international price trends, the government ensures fair duty assessment while supporting efficient trade operations. Import-dependent businesses should review these updates closely to recalibrate pricing, procurement, and compliance strategies.