CBIC issued Notification No. 89/2026-Customs, revising tariff values for edible oils, gold, silver, brass scrap, and areca nuts effective 31 October 2026. The update impacts valuation and duty assessment.
CBIC Updates Tariff Values for Key Imports
The Central Board of Indirect Taxes and Customs (CBIC) has revised the notified tariff values for several goods under Notification No. 89/2026-Customs (N.T.), effective 31 October 2026. The revision affects edible oils, gold, silver, brass scrap, and areca nuts — all of which are subject to valuation controls under Rule 26(14) of the Customs Valuation Rules, 2007.
The updated values serve as presumptive customs values for assessing duties where transaction value is not acceptable or fully documented. For instance, the tariff value of brass scrap has been increased by 12%, reflecting global market trends. Similarly, values for refined palm oil and gold bars of specified purity have been adjusted to align with international benchmarks.
Compliance Implication
Importers must review their declarations made on or after 31 October 2026 to ensure alignment with the revised values. Discrepancies above the prescribed tolerance limits may trigger SVB scrutiny. However, importers can still substantiate lower values with reliable documentation, including invoices, payment records, and market surveys.Citations
- Customs Valuation Rules, 2007, Rule 26(14)
