CBIC Notifies Revised Customs Tariff Values for Edible Oils, Precious Metals, and Areca Nuts via Notification No. 80/2026-Customs

The Central Board of Indirect Taxes and Customs (CBIC), operating under the Ministry of Finance, has officially promulgated a fresh directive revising the tariff values applicable to a specific roster of imported commodities. Issued on the 30th of September 2026, Notification No. 80/2026-Customs (N.T.) introduces updated baseline valuations for calculating customs duties on goods such as edible oils, brass scrap, gold, silver, and areca nuts.

This regulatory adjustment directly amends the foundational Notification No. 36/2001-Customs (N.T.), which was originally published on the 3rd of August 2001. By substituting the existing valuation tables, the CBIC ensures that the import duty framework remains synchronized with the prevailing international commodity prices. The newly prescribed tariff values are slated to come into legal effect starting from the 1st of October 2026, requiring every importing assessee to recalibrate their duty computations accordingly.

To comprehend the significance of this notification, it is essential to examine the statutory backing that empowers the CBIC to dictate these values. The valuation of goods for customs purposes in India is primarily governed by the Customs Act, 1962.

The Power Vested Under Section 14(2)

While Section 14(1) of the Customs Act, 1962 generally relies on the "transaction value" (the price actually paid or payable for the goods) for duty assessment, Section 14(2) provides a critical exception.

Section 14(2) of the Customs Act, 1962 authorizes the CBIC to fix tariff values for any class of imported or export goods, provided the Board is satisfied that it is necessary and expedient to do so.

When a tariff value is fixed under this sub-section, the customs duty is calculated based on this officially notified value, regardless of the actual transaction value declared by the assessee in the commercial invoice. This mechanism is strategically deployed by the government for commodities that are highly prone to price volatility or under-invoicing, thereby safeguarding the national revenue and streamlining the clearance process at the ports.

Comprehensive Breakdown of the Revised Tariff Values

Notification No. 80/2026-Customs (N.T.) executes its mandate by substituting three specific tables within the principal notification. Below is a detailed analysis of the revised valuations across different commodity categories.

Table 1: Edible Oils and Brass Scrap

The first table primarily targets the edible oil sector and metal scrap, both of which constitute a massive portion of India's import volume. The values are denominated in US Dollars per Metric Tonne (MT).