India Lowers Gold and Silver Tariff Values from Oct. 1, 2026

India set new customs tariff values from Oct. 1, 2026, raising edible oil values and lowering brass scrap, gold and silver values.

India’s Central Board of Indirect Taxes and Customs (CBIC) has set new tariff values for imported palm oil, soybean oil, brass scrap, gold and silver, in force from Oct. 1, 2026¹.

A tariff value is a fixed price in US dollars that Indian customs uses to work out the import duty on certain goods. For these goods, customs applies the duty rate to the table price, not to the price on the invoice.

In short, the dollar prices behind India’s import duty have moved again. From Oct. 1, edible oil shipments are valued slightly higher, while brass scrap, gold and silver are valued lower, and areca nuts stay the same.

What is new in Notification No. 80/2026?

The CBIC, part of India’s Ministry of Finance, issued Notification No. 80/2026-Customs (N.T.) in New Delhi on Sept. 30, 2026¹. It uses powers given to the Board by sub-section (2) of section 14 of the Customs Act, 1962¹.

The notification changes an older one, No. 36/2001-Customs (N.T.), dated Aug. 3, 2001¹. That 2001 notification holds the lists of tariff values. The new text replaces all three of its tables in full¹.

This is the next step after Notification No. 75/2026-Customs (N.T.), dated Sept. 15, 2026¹. That notification set the values used from Sept. 16². What is new now is a fresh set of dollar values that replaces it from Oct. 1.

How do the new edible oil values compare?

Table 1 of the notification gives values in US dollars per metric tonne¹. Every edible oil in the table now has a higher value than in the September notification². The new values, with the September figures in brackets, are:

• Crude palm oil (1511 10 00): $1,229, up from $1,219
• RBD palm oil (1511 90 10): $1,240, up from $1,231
• Other palm oil (1511 90 90): $1,235, up from $1,225
• Crude palmolein (1511 10 00): $1,248, up from $1,239
• RBD palmolein (1511 90 20): $1,251, up from $1,242
• Other palmolein (1511 90 90): $1,250, up from $1,241
• Crude soybean oil (1507 10 00): $1,280, up from $1,268

The October values come from Notification 80/2026¹. The September values come from Notification 75/2026².

The numbers in brackets after each product are India’s tariff codes for the goods.

The rises are small. Palm oil and palmolein values go up by $9 or $10 per tonne. Crude soybean oil rises the most, by $12 per tonne, or about 0.9%.

Why does brass scrap now cost less in duty?

Brass scrap of all grades, under tariff item 7404 00 22, sits in the same first table as the oils¹. Its new value is $8,149 per tonne¹.

In the September notification, the value was $8,218 per tonne². That is a fall of $69 per tonne, or a little under 1%. Brass scrap is the only item in Table 1 whose value goes down.

Because duty is worked out on the table value, a lower value means a smaller duty bill on each tonne. The duty rate itself does not change through this notification. Only the dollar base changes.

What happens to gold and silver values?

Table 2 covers gold and silver that fall under chapter 71 or 98 of the tariff¹.

The first entry is gold imported with the benefit of serial number 194 of Notification No. 45/2025-Customs, dated Oct. 24, 2025¹. Its value is now $1,339 per 10 grams¹. In September it was $1,373 per 10 grams, so the value falls by $34, or about 2.5%².

The second entry is silver imported with the benefit of serial number 195 of the same 2025 notification¹. Its value is now $1,965 per kilogram, down from $2,028¹. The September notification had kept silver at $2,028 and marked it "no change"².

These are the two largest falls in the October tables in percentage terms. Silver drops by about 3.1%.

Which gold and silver goods are covered?

Table 2 also lists two broader entries for bullion and coins¹. Each carries the same value as the matching entry above.

The silver entry covers silver in any form, and silver medallions and coins with at least 99.9% silver¹. It also covers semi-made forms of silver under sub-heading 7106 92¹. Its value is $1,965 per kilogram¹.

Silver in this entry does not include foreign currency coins, silver jewellery or articles made of silver¹. Those goods are left out of the tariff value for silver.

The gold entry covers gold bars that carry the maker’s or refiner’s engraved serial number and a weight in metric units¹. Tola bars are left out¹. It also covers gold coins with at least 99.5% gold and gold findings¹. Its value is $1,339 per 10 grams¹.

The notification explains gold findings as small jewellery parts, such as a hook, clasp, clamp, pin, catch or screw back¹. These parts hold a piece of jewellery, or part of it, in place.

Both of these entries exclude imports by post, courier or baggage¹. A traveller’s gold coins or a courier parcel of silver medallions do not fall under these two entries.

What stays the same for areca nuts?

Table 3 covers areca nuts under code 080280¹. Their value stays at $11,574 per metric ton¹.

The notification marks this figure "no change"¹. The September notification also gave $11,574 and also marked it "no change"². Areca nut importers will see no change in the duty base from Oct. 1.

How does a tariff value change a shipment’s duty?

For these goods, the price in the sales contract does not set the duty. Customs takes the tariff value from the table and applies the duty rate to it.

The effect works step by step:

1. Customs finds the product’s line in the table, by its tariff code.
2. It takes the dollar value for that line, per tonne, per kilogram or per 10 grams.
3. It applies the duty rate for the goods to that value.
4. The result is the duty owed, whatever the buyer actually paid.

So when a table value rises, duty on each unit rises, even if the buyer paid less. When it falls, duty falls, even if the buyer paid more.

For October shipments, this means a slightly higher duty base for palm and soybean oil. Buyers of brass scrap, gold bars, gold coins and silver will have a lower duty base than in the second half of September.

Who is affected by the October values?

Several groups deal with these values at the border:

• Edible oil importers bringing in crude or refined palm oil, palmolein and crude soybean oil pay duty on a slightly higher base.
• Brass scrap buyers, such as metal recyclers and foundries, pay duty on a lower base.
• Gold and silver importers using the 2025 duty benefits, or bringing in bars, coins and findings, also pay duty on a lower base.
• Areca nut importers see no change.
• Customs brokers must use the new values for goods cleared from Oct. 1.

Sellers abroad are not named in the notification. But their Indian buyers’ landed cost now follows these new table prices.

When do the new values apply?

The notification states that it comes into force on Oct. 1, 2026¹. It was signed on Sept. 30 by Under Secretary Indrajit Panda¹. The text was sent for publication in the Gazette of India, Extraordinary¹.

The September values came into force on Sept. 16, 2026². Before that, Notification No. 72/2026-Customs (N.T.), dated Aug. 31, 2026, had set the values². The Board has now replaced the tables three times in about one month.

The notification does not give an end date. The values stay until the Board issues the next notification amending the 2001 tables.

Key points on India’s October tariff values

The table below sums up the main facts from Notification 80/2026.

From Oct. 1, 2026, customs works out duty on palm and soybean oil from slightly higher dollar values, and on brass scrap, gold and silver from lower ones¹. These values hold until the CBIC publishes its next amending notification.

Sources

1. ↩ Microsoft Word – English version of Notification -80-2026 CUS NT dt 30.09.2026 https://chennaicustoms.gov.in/wp-content/uploads/2026/09/English-version-of-Notification-80-2026-CUS-NT-dt-30.09.2026-PDF.pdf
2. ↩ Microsoft Word – English versions of Notification -75-2026 CUS NT dt 15.09.2026 – Copy (2) https://chennaicustoms.gov.in/wp-content/uploads/2026/09/English-version-of-Notification-75-2026-CUS-NT-dt-15.09.2026-PDF.pdf