Global Crude oil price of Indian Basket was US$ 50.33 per bbl on 11.08.2017
Global Crude oil price of Indian Basket was US$ 50.33 per bbl on 11.08.2017
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 50.33 per barrel (bbl) on 11.08.2017. This was lower than the price of US$ 51.82 per bbl on previous publishing day of 10.08.2017.
In rupee terms, the price of Indian Basket decreased to Rs. 3229.91 per bbl on 11.08.2017 as compared to Rs. 3313.36 per bbl on 10.08.2017. Rupee closed weaker at Rs. 64.17 per US$ on 11.08.2017 as compared to Rs. 63.94 per US$ on 10.08.2017. The table below gives details in this regard:
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Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver
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, 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 Metric Tonne)
|
(1)
|
(2)
|
(3)
|
(4)
|
1
|
1511 10 00
|
Crude Palm Oil
|
682
|
2
|
1511 90 10
|
RBD Palm Oil
|
693
|
3
|
1511 90 90
|
Others – Palm Oil
|
688
|
4
|
1511 10 00
|
Crude Palmolein
|
698
|
5
|
1511 90 20
|
RBD Palmolein
|
701
|
6
|
1511 90 90
|
Others – Palmolein
|
700
|
7
|
1507 10 00
|
Crude Soya bean Oil
|
818
|
8
|
7404 00 22
|
Brass Scrap (all grades)
|
3624
|
9
|
1207 91 00
|
Poppy seeds
|
2418
|
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 356 and 358 of the Notification No. 50/2017-Customs dated 30.06.2017 is availed
|
418 per 10 grams
|
2
|
71 or 98
|
Silver, in any form, in respect of which the benefit of entries at serial number 357 and 359 of the Notification No. 50/2017-Customs dated 30.06.2017 is availed
|
555 per kilogram
|
TABLE-3
Sl. No.
|
Chapter/ heading/ sub-heading/tariff item
|
Description of goods
|
Tariff value
(US $ Per Metric Tonne )
|
(1)
|
(2)
|
(3)
|
(4)
|
1
|
080280
|
Areca nuts
|
3858”
|
*****
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