Short news summary
CBIC has revised customs tariff values for specified edible oils, gold, silver, brass scrap and areca nuts, effective 16 October 2026. Compared with the preceding schedule, values have fallen for palm-based oils, gold, silver and areca nuts, while crude soybean oil and brass scrap values have increased.
The new valuation schedule takes effect.
Customs tariff values for selected imported commodities have been updated through Notification No. 86/2026-Customs (N.T.), issued by the Central Board of Indirect Taxes and Customs on 15 October.
The notification replaces three tables under the existing tariff-value framework established in August 2001. Its immediate relevance is to the value used for assessing covered imports.
A tariff value is a notified assessment benchmark. Revising it is different from changing the percentage rate of customs duty. Consequently, the latest notification should not be described as a general increase or reduction in import duty rates.
The effect on an individual consignment depends on the applicable valuation, duty provisions and any relevant exemption conditions.
Commodity benchmarks move in different directions
The revised schedule makes small downward adjustments across palm oil and palmolein categories, while increasing the benchmarks for crude soybean oil and brass scrap.
Gold, silver and areca nut values have also been reduced against the schedule that took effect on 1 October.
| Commodity | Previous tariff value | Revised tariff value | Unit |
|---|---|---|---|
| Crude palm oil | US$1,229 | US$1,223 | Per metric tonne |
| RBD palm oil | US$1,240 | US$1,234 | Per metric tonne |
| Other palm oil | US$1,235 | US$1,229 | Per metric tonne |
| Crude palmolein | US$1,248 | US$1,242 | Per metric tonne |
| RBD palmolein | US$1,251 | US$1,245 | Per metric tonne |
| Other palmolein | US$1,250 | US$1,244 | Per metric tonne |
| Crude soybean oil | US$1,280 | US$1,287 | Per metric tonne |
| Brass scrap, all grades | US$8,149 | US$8,247 | Per metric tonne |
| Specified gold categories | US$1,339 | US$1,316 | Per 10 grams |
| Specified silver categories | US$1,965 | US$1,907 | Per kilogram |
| Areca nuts | US$11,574 | US$10,433 | Per metric tonne |
Precious-metal entries remain subject to the notification’s product descriptions and import conditions.
Assessment value and purchase price serve different purposes
The legal basis is Section 14(2) of the Customs Act, 1962, which empowers the Board to notify tariff values after considering trends in the value of the goods concerned or comparable goods.
Where a tariff value has been fixed, value-based customs duties are calculated with reference to that benchmark.
This separates the commercial price negotiated between buyer and seller from the prescribed customs valuation reference. A supplier’s invoice and the applicable tariff-value schedule therefore answer different questions.
For businesses, the practical consequence is that an unchanged purchase price does not necessarily mean an unchanged customs assessment. Equally, a lower notified value is not a direction to suppliers or retailers to reduce their selling prices.
The notification concerns the assessment framework for specified goods; it does not establish their domestic market price.
Precious metals require attention to product coverage
The gold and silver benchmarks apply to the categories described in the notification, rather than indiscriminately to every article containing those metals.
The schedule includes entries linked to specified customs concessions, alongside detailed descriptions covering qualifying bars, coins and other forms.
Some entries contain exclusions or conditions relating to imports through post, courier or baggage. Product form and import channel therefore remain material to identifying the correct treatment.
For customs brokers, this makes matching the declaration to the relevant description as important as updating the numerical benchmark.
Earlier revision provides the comparison base
The immediately preceding amendment was Notification No. 80/2026-Customs (N.T.), dated 30 September, which introduced values from 1 October.
The latest notification continues that existing framework by substituting the tables again from 16 October. It does not introduce tariff valuation for these commodities for the first time.
For import supply chains, the operational task is to align assessment references, cost estimates and clearance documentation with the applicable schedule.
Refiners, metal processors, bullion businesses and commodity traders may see different valuation effects because the benchmarks have moved in opposite directions across products.
Those changes can influence anticipated duty outlays, but a complete landed-cost calculation still requires the relevant tax treatment and commercial costs. The revised benchmark alone does not establish the final amount payable on every shipment.
FAQs
When did the revised values take effect?
On 16 October 2026.
Does the notification change customs duty rates?
It updates valuation benchmarks, rather than announcing a general change in duty percentages.
What is the revised gold tariff value?
US$1,316 per 10 grams for the specified categories.
What is the revised silver tariff value?
US$1,907 per kilogram for the specified categories.
Which benchmarks increased?
Crude soybean oil rose to US$1,287 per tonne and brass scrap to US$8,247 per tonne.
Join our WhatsApp channel for more updates:
Subscribe to our YouTube channel for more updates:
