CBIC Revises Customs Tariff Values From September 1: Gold at $1,468/10g, Palm Oil and Brass Scrap Benchmarks Updated

The Central Board of Indirect Taxes and Customs has revised the notified tariff values used for customs valuation of a basket of imported commodities with effect from September 1, 2026. The change comes through Notification No. 72/2026-Customs (N.T.) dated August 31, 2026, published in the Gazette of India as S.O. 4811(E). For importers, customs brokers, finance teams and indirect-tax professionals, the practical consequence is immediate: assessments of covered goods from September 1 must use the revised notified benchmarks wherever section 14(2) tariff-value rules apply.

What the August 31 notification changes

The notification has been issued under sub-section (2) of section 14 of the Customs Act, 1962. It amends the long-standing principal Notification No. 36/2001-Customs (N.T.) dated August 3, 2001 by substituting its Table 1, Table 2 and Table 3. The latest amendment follows Notification No. 71/2026-Customs (N.T.) dated August 25, 2026.

The new Table 1 sets tariff values in US dollars per metric tonne for specified edible oils and brass scrap. The notified values are:

- Crude Palm Oil: US$1,214 per metric tonne.

- RBD Palm Oil: US$1,227 per metric tonne.

- Other Palm Oil: US$1,221 per metric tonne.

- Crude Palmolein: US$1,235 per metric tonne.

- RBD Palmolein: US$1,238 per metric tonne.

- Other Palmolein: US$1,237 per metric tonne.

- Crude Soya Bean Oil: US$1,262 per metric tonne.

- Brass Scrap, all grades: US$8,162 per metric tonne.

Gold, silver and areca-nut tariff values

The substituted Table 2 specifies tariff values for the covered gold and silver entries. For the specified gold imports, including qualifying gold bars, gold coins and gold findings covered by the notification, the tariff value is US$1,468 per 10 grams. The notification describes gold findings as small components such as hooks, clasps, clamps, pins, catches or screw backs used to hold a piece of jewellery or a part of it in place.

For the specified silver entries, the tariff value shown is US$2,267 per kilogram. The notification records the silver value as unchanged for the relevant entry. Table 3 fixes the tariff value of areca nuts at US$11,574 per metric tonne, also expressly noting that this value is unchanged.

Why tariff values matter for customs assessment

Tariff values under section 14(2) are notified valuation benchmarks for specified imported goods. Where a covered import falls within the notification, customs assessment does not simply depend on the commercial invoice value in the same way as ordinary transaction-value cases. Finance and tax teams therefore need the correct effective-date table when computing assessable value and checking the downstream duty impact.

Because Notification No. 72/2026 takes effect on September 1, teams handling bills of entry for the affected commodities should ensure that their customs working papers, ERP or trade-compliance systems, landed-cost models and broker instructions reflect the latest notified table. A mismatch between the date of import assessment and the tariff-value table can flow into incorrect duty calculations, provisioning and inventory-cost recognition.

What CAs and import-finance teams should check now

- Confirm whether the imported product and tariff item fall within the exact entries covered by the notification.

- Use the September 1 values for covered assessments from the effective date rather than relying on the August 25 table or earlier benchmarks.

- Recheck gold and silver classifications carefully because the notification contains entry-specific descriptions and exclusions.

- Align customs-broker instructions, internal import checklists and landed-cost calculations with Notification No. 72/2026-Customs (N.T.).

- Retain the Gazette notification with the assessment file where the tariff value materially affects duty computation.

The key change is not a broad customs-duty-rate amendment; it is a fresh set of tariff-value benchmarks effective September 1, 2026 for specified edible oils, brass scrap, gold, silver and areca nuts. Importers and their advisers should use the exact commodity description and effective date before applying the revised figures.

Official source: View the official source document

Key takeaway

Effective-today customs valuation change with high-value commodity keywords and immediate compliance relevance.