CBIC Revises Customs Tariff Values via Notification No. 71/2026-Customs (N.T.) — Effective August 26, 2026
The Central Board of Indirect Taxes and Customs (CBIC), operating under the Ministry of Finance, Department of Revenue, has rolled out a fresh set of tariff value revisions for select imported commodities through Notification No. 71/2026-Customs (N.T.) dated August 25, 2026. These revisions are effected by substituting Table-1, Table-2, and Table-3 of the principal notification — Notification No. 36/2001-Customs (N.T.) dated August 3, 2001 — and carry legal force from August 26, 2026.
The statutory authority for this exercise is drawn from sub-section (2) of Section 14 of the Customs Act, 1962 (52 of 1962), which empowers CBIC to prescribe tariff values for specified goods where it is satisfied that doing so is necessary and expedient. Such tariff values serve as the deemed transaction value for the purpose of customs duty calculation, overriding the declared invoice price in relevant cases.
Legal Framework and Amendment History
The principal notification, Notification No. 36/2001-Customs (N.T.) dated August 3, 2001, was originally published in the Gazette of India, Extraordinary, Part-II, Section-3, Sub-section (ii) vide S.O. 748(E). It has been subject to periodic amendments to reflect prevailing international commodity prices.
The most recent amendment prior to this notification was Notification No. 70/2026-Customs (N.T.) dated August 14, 2026, published vide S.O. 4511(E) in the same gazette series. The present notification — S.O. 4720(E) — now supersedes those tables with the revised schedule effective from August 26, 2026.
Table-1: Tariff Values for Edible Oils and Brass Scrap
Table-1 governs the tariff values applicable to crude and refined vegetable oils and brass scrap — all expressed in US Dollars per Metric Tonne. In the current revision cycle, all values under Table-1 remain unchanged, as expressly indicated in the notification.
Revised Tariff Values — Table-1
| Sl. No. | Tariff Item | Description | Tariff Value (USD/MT) |
|---|---|---|---|
| 1 | 1511 10 00 | Crude Palm Oil | US$ 1,208 (no change) |
| 2 | 1511 90 10 | RBD Palm Oil | US$ 1,220 (no change) |
| 3 | 1511 90 90 | Others – Palm Oil | US$ 1,214 (no change) |
| 4 | 1511 10 00 | Crude Palmolein | US$ 1,227 (no change) |
| 5 | 1511 90 20 | RBD Palmolein | US$ 1,230 (no change) |
| 6 | 1511 90 90 | Others – Palmolein | US$ 1,229 (no change) |
| 7 | 1507 10 00 | Crude Soya Bean Oil | US$ 1,257 (no change) |
| 8 | 7404 00 22 | Brass Scrap (all grades) | US$ 7,945 (no change) |
Note: The phrase "i.e., no change" is expressly recorded against each of these entries in the official notification, signifying that these values have been carried forward from the immediately preceding notification without any upward or downward revision.