CBIC Updates Customs Tariff Values for Gold, Silver, Edible Oils, and Brass Scrap

Under CBIC Notification No. 91/2026-Customs (N.T.), the Central Board of Indirect Taxes and Customs has officially revised the customs tariff values for gold, silver, edible oils, and brass scrap, with the changes becoming effective from 14 November 2026. Tariff values serve as the statutory base price determined by revenue authorities for assessing import duties when declared transaction values diverge or require standard valuation benchmarks.

Adjusting these base figures alters the precise import duty outgo for commercial shipments. Under the prior framework, importers calculated duties using older baseline numbers; the updated notification supersedes those figures to reflect shifting global commodity market valuations. Importers and customs brokers must immediately update their valuation software and compliance checklists to incorporate the 14 November 2026 tariff rates for gold, silver, edible oils, and brass scrap.

Tax professionals should audit pending import bills of entry to prevent short-payment notices or clearance delays at ports. Review your upcoming commodity shipments today to ensure accurate duty provisioning and avoid regulatory penalties.