The Central Board of Indirect Taxes & Customs (CBITC) has revised the tariff values of certain goods. This notification was issue on 31st January, 2022.
In doing so, the CBITC) has amended the notification of the Government of India in the Ministry of Finance (Department of Revenue) dated the 3rd August, 2001. This notification had last been amended on 13th January, 2023.
With the exception of areca nuts, whose tariff value remains unchanged, all other goods described in the notification have undergone a revision in their tariff values. Additionally, the tariff values of Crude Soya bean Oil and Brass Scrap (all grades) have undergone a considerable increase.