PUBLIC NOTICE NO.: 100/2001 Appraising (General),

Imp. Supply No. : 49/2001

Exp.Supply No. : 49/2001

PUBLIC NOTICE NO.: 100/2001 Date: 30.08.2001

Sub: Fixation of Tariff Value under Section 14(2) of the Customs Act, 1962 on Crude Palmolein.
Attention of the Trade, Importers, CHAs and other concerned is invited to Board’s Notification No. 40/2001 –Cus-(NT) dated 28.08.2001 effective from 28.08.2001 amending notfn.36/2001 Custom dated 3.8.2001 according to which Tariff value for Crude Palmolein has been fixed at US$ 357(Three Hundred Fifty Seven) in terms of Section 14(2) of Customs Act, 1962 in addition to Crude Palm Oil, RBD Palm Oil & RBD Palmolein whose tariff values were fixed vide notfn. 36/2001 dated 3.8.2001. Further an explanation has been inserted in notfn. 36/2001 dated 3.8.2001 vide notfn. 40/2001 dated 28.8.2001.

“Explanation:- For the purposes of this notification, the rate of exchange applicable for the purposes of conversion of tariff value shall be the rate which is specified in the notification of the Government of India in the Ministry of Finance (Department of Revenue) issued from time to time in exercise of the powers under sub-clause (i) of clause (a) of subsection (3) of section 14 of the Customs Act, 1962(52 of 1962) and the relevant date for the determination of the rate of exchange shall be the date of presentation of the bill of entry under section 46 of the said Customs Act”.

The valuation of specified goods viz Crude Palmolein would have to be done in terms of this Notification and not as per the definition of value under Section 14(1) read with Section 14(1A) of the Customs Act 1962. Under section 15(1) of the Customs Act, 1962 the tariff valuation applicable in the case of goods cleared from a warehouse under section 68 shall be the tariff value in force on the date on which the goods are actually removed from the warehouse. The tariff value fixed under the said Notification shall, therefore, be applicable to the import consignment of Crude Palmolein cleared from a Bonded Warehouse on or after 28.08.2001. It should also be noted that where the Tariff value has been fixed in respect of any goods, the duty leviable on Advolerum basis is required to be levied on such tariff values without any further addition of Freight, Insurance, Landing Charges etc.

A copy of the notification no. 40/2001 – Cus-(NT) dated 28.8.2001 is given on the reverse.

(M. C. THAKUR)
COMMISSIONER OF CUSTOMS (IMPORT)
NEW CUSTOM HOUSE, MUMBAI.

Issued from file No: S/26-290/99 A (G)

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