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Change in Tariff Value of Crude Palm Oil, Rbd Palm Oil, others



Change in Tariff Value of Crude Palm Oil, Rbd Palm Oil, others – Palm Oil, Crude Palmolein, RBD Palmolein, others – Palmolein, Crude Soyabean Oil, Brass Scrap (All Grades), Poppy Seeds, Areca Nuts, Gold and Silver notified 

            In exercise of the powers conferred by sub-section (2) of Section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs(CBEC), being satisfied that it is necessary and expedient so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.), dated the 3rd August, 2001, published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii), vide number S. O. 748 (E), dated the 3rd August, 2001, namely:-


In the said notification, for TABLE-1, TABLE-2, and TABLE-3, the following Tables shall be substituted namely:-

TABLE-1

Sl. No.
Chapter/ heading/ sub-heading/tariff item
Description of goods
Tariff value US $
(Per MetricTonne)
(1)
(2)
(3)
(4)
1
1511 10 00
Crude Palm Oil
575 (i.e. no change)
2
1511 90 10
RBD Palm Oil
617 (i.e. no change)
3
1511 90 90
Others – Palm Oil
596 (i.e. no change)
4
1511 10 00
Crude Palmolein
631 (i.e. no change)
5
1511 90 20
RBD Palmolein
634 (i.e. no change)
6
1511 90 90
Others – Palmolein
633 (i.e. no change)
7
1507 10 00
Crude Soya bean Oil
754 (i.e. no change)
8
7404 00 22
Brass Scrap (all grades)
3117 (i.e. no change)
9
1207 91 00
Poppy seeds
2648 (i.e. no change)

TABLE-2

Sl. No.
Chapter/ heading/ sub-heading/tariff item
Description of goods
Tariff value
(US $)
(1)
(2)
(3)
(4)
1
71 or 98
Gold, in any form, in respect of which the benefit of entries at serial number 321 and 323 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed
354 per 10 grams
2
71 or 98
Silver, in any form, in respect of which the benefit of entries at serial number 322 and 324 of the Notification No. 12/2012-Customs dated 17.03.2012 is availed
517 per kilogram  (i.e. no change)   

TABLE-3

Sl. No.
Chapter/ heading/ sub-heading/tariff item
Description of goods
Tariff value
(US $ Per Metric Tons )
(1)
(2)
(3)
(4)
1
080280
Areca nuts
2662” (i.e. no change)

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Indirect Tax Revenue (Provisional) collections during October 2015 increased by 36.8% as compared with collections made in October 2014;
Cumulatively, during April-October 2015, Indirect Tax Collections increased by 35.9% over the collections made during the same period last year suggesting a healthy growth in the underlying tax base 
In October 2015, indirect tax revenue (provisional) collections increased by 36.8% compared with collections made in October 2014. Cumulatively, during April-October 2015, indirect tax collections increased by 35.9% over the collections made during the same period last year, while, the target growth rate for 2015-16 is 18.8%. Overall, in monetary terms, the indirect tax revenue (provisional) collections  increased to Rs 3,82,860 crore during April-October 2015 from Rs.2,81,798 crore during April-October 2014. In the month of October 2015 alone, the collections increased to Rs.58, 691 crore from Rs.42, 897 crore in October 2014.
                  Collections on account of Central Excise increased from Rs.87,588 crore in April-October 2014 to Rs.1, 47,685 crore in April-October 2015 and thereby registering an increase of 68.6 %. In case of Service Tax, collections increased from Rs. 89,379 crore in April-October 2014 to Rs. 1, 12,727 crore in April-October 2015 and thereby registering an increase of 26.1 %. Collections on account of Customs increased from Rs. 1, 04,831 crore in April-October 2014 to Rs. 1, 22,448 crore in April-October 2015 and thereby registering an increase of  16.8 %.
            These collections reflect in part increase due to additional measures taken by the Government from time to time, including the excise increases on diesel and petrol, the increase in clean energy cess, the withdrawal of exemptions for motor vehicles, capital goods and consumer durables, and from June 2015, the increase in Service Tax rates from 12.36% to 14%.
However, stripped of all these additional measures, indirect tax collections increased by 11.6% during April-October 2015 as compared to April-October 2014.
These collections continue to suggest a healthy growth in the underlying tax base.
Details of overall Indirect Tax Revenue (provisional) collections during April-October 2015 along with growth rate compared to the corresponding period in the previous year are as follows:

Indirect Tax Collection:  April- October 2015
(Rs. in crores)
Tax Head


B.E.
2015-16
For October
Up-to October
% of BE achievement
2014-15
2015-16
% Growth
2014-15
2015-16
% Growth
 Customs
208336

16800
18998
13.1
104831
122448
16.8
58.8
Central Excise*
228157

13569
22550
66.2
87588
147685
68.6
64.7
Service Tax
209774

12528
17143
36.8
89379
112727
26.1
53.7

Total

646267


42897

58691

36.8

281798

382860

35.9

59.2
 *Exclusive of cess administered by other departments.

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