On June 30, 2025, the Central Board of Indirect Taxes and Customs (CBIC), under the Ministry of Finance, issued Notification No. 44/2025-Customs (N.T.). This notification updates the tariff values of several important imported commodities under Section 14(2) of the Customs Act, 1962, and replaces the earlier Notification No. 43/2025-Customs (N.T.), dated June 13, 2025.

The revised customs tariff values, which came into effect from July 1, 2025, cover a range of commodities including edible oils, brass scrap, gold, silver, and areca nuts. These updates directly impact importers, customs agents, and businesses dealing in international trade.

What are Customs Tariff Values?

Tariff values are fixed base prices declared by the CBIC for the purpose of calculating customs duty on imported goods. They are especially relevant for goods with volatile international prices like edible oils, metals, and nuts. These values help standardize the assessment of import duties regardless of fluctuating market prices.

Key Highlights of Notification No. 44/2025-Customs (N.T.):

📈 Tariff Value Increases

  • Edible oils, including crude palm oil, RBD palm oil, and soybean oil, saw increased tariff values, likely due to rising global prices or supply-side dynamics.

  • Brass scrap rates have also been revised upward.

📉 Tariff Value Decreases

  • Gold and silver values have been reduced, providing some relief to importers and potentially lowering the cost for jewelers and consumers.

➖ No Change in Areca Nuts

  • The tariff value for Areca Nuts (Supari) remains unchanged at USD 6970 per metric tonne.

Detailed Tariff Value Tables (Effective July 1, 2025):

Table 1: Edible Oils and Brass Scrap (USD/Metric Tonne)
S.No Description New Tariff Value (USD) Change
1 Crude Palm Oil 1006 ⬆ Increase
2 RBD Palm Oil 1032 ⬆ Increase
3 Other Palm Oil 1019 ⬆ Increase
4 Crude Palmolein 1044 ⬆ Increase
5 RBD Palmolein 1047 ⬆ Increase
6 Other Palmolein 1046 ⬆ Increase
7 Crude Soybean Oil 1095 ⬆ Increase
8 Brass Scrap (All Grades) 5563 ⬆ Increase
Table 2: Precious Metals (Gold & Silver)
S.No Description New Tariff Value Change
1 Gold (any form, under benefit) (10 gm) 1054 USD ⬇ Decrease
2 Silver (under benefit) (per kg) 1164 USD ⬇ Decrease
3 Silver (purity ≥ 99.9%) (per kg) 1164 USD ⬇ Decrease
4 Gold bars/coins/findings (10 gm) 1054 USD ⬇ Decrease
Table 3: Areca Nuts (Supari)
S.No Description New Tariff Value Change
1 Areca Nuts (Supari) 6970 USD/MT ➖ No Change

Why Do These Changes Matter?

  • Import Duties: Customs duties are calculated on the basis of tariff values. A change in tariff value directly affects the landed cost of goods.

  • Price Impact: Higher tariff values on oils may lead to increased costs for food manufacturers or consumers, while reduced gold/silver values may lower jewelry costs in the short term.

  • Business Strategy: Importers and exporters need to align their pricing strategies, supply chain planning, and inventory management based on these regular updates.

Frequently Asked Questions (FAQs)

Q1. What is the purpose of setting customs tariff values?
Tariff values are set to provide standardized valuation for customs duty calculation, especially for items with highly volatile international prices.

Q2. Are these tariff values applicable to all imports?
Yes, these values apply uniformly to imports of the specified commodities regardless of their actual transaction price.

Q3. How often does the CBIC update tariff values?
There is no fixed schedule, but updates are typically made every 2–3 weeks or when international prices fluctuate significantly.

Q4. Will the revised values affect retail prices?
They might. Increased tariff values could raise input costs for manufacturers and potentially increase retail prices, especially in the case of edible oils.

Q5. Where can I find official tariff notifications?
You can access all customs tariff notifications on the official CBIC website.

Conclusion

The Finance Ministry’s latest tariff value update, effective July 1, 2025, reflects a response to dynamic global market conditions. While edible oil and brass scrap importers will bear higher duty costs, the reduction in gold and silver values may bring short-term cheer to jewellers and consumers. For the trade community, staying updated with such changes is crucial for planning imports, pricing strategies, and maintaining compliance.

Regular review of CBIC notifications is a best practice for all stakeholders in import-export businesses. If you’re directly involved in trading any of the listed items, adjust your procurement, pricing, and taxation strategies accordingly.