CBIC Revises Customs Tariff Values on Gold, Silver, Edible Oils and Areca Nuts (Effective 16 October 2026)

In its routine fortnightly revision, the Central Board of Indirect Taxes and Customs has updated the tariff values used to assess customs duty on a short list of imported commodities. CBIC Notification No. 86/2026-Customs (N.T.), dated 15 October 2026, substitutes Tables 1, 2 and 3 of the long-standing Notification No. 36/2001-Customs (N.T.) and takes effect on 16 October 2026. The revised values cover palm oils and palmolein, crude soybean oil, brass scrap, gold, silver and areca nuts.

For importers of these goods, this is a reminder that duty on them is not calculated on your invoice price. It is calculated on a government-fixed "tariff value" — and when that number changes, your landed duty changes with it, regardless of what you actually paid.

What Happened

Section 14(2) of the Customs Act, 1962 lets the government fix tariff values for specified goods. For the commodities listed in Notification 36/2001-Customs (N.T.), the assessable value for duty is the notified tariff value, which CBIC revises roughly every two weeks to track international prices. Notification 86/2026 is the latest such revision. The figures confirmed in the notification include:

• Gold: US$1,316 per 10 grams (in the specified forms and subject to conditions).
• Silver: US$1,907 per kilogram (in the specified forms and subject to conditions).
• Palm oil, palmolein and crude soybean oil, brass scrap and areca nuts: revised values set out in Tables 1–3 of the notification.

Because the notification replaces the tables wholesale, importers should read the figure for their exact tariff line and grade from the official text rather than relying on a summary.

Why This Matters

Tariff values exist to stop under-invoicing on sensitive, price-volatile commodities such as precious metals and edible oils. The practical effect is that two importers paying different invoice prices for the same gold or crude palm oil pay duty on the same notified value. When CBIC raises the tariff value, the assessable base rises and so does the basic customs duty, agriculture infrastructure and development cess, and IGST computed on that base — even if your contract price did not move. When it lowers the value, duty falls. Entries filed on or after 16 October 2026 must use the new figures.

Who's Affected

Importers of gold and silver (jewellers, bullion dealers, nominated agencies), edible-oil refiners and traders importing crude palm oil, palmolein and soybean oil, brass-scrap importers feeding foundries, and areca-nut importers are directly affected — together with the customs brokers filing their bills of entry. The change is purely about the valuation base; it does not alter the duty rate itself or any licensing condition.

What Importers and CHAs Should Do Now

• Use the 16 October values for new entries. Ensure your bill of entry for gold, silver, palm/soybean oil, brass scrap or areca nut uses the tariff value in Notification 86/2026, not the previous fortnight's figure.
• Re-check landed-cost calculations. Update duty and IGST workings so quotations and costings reflect the revised assessable base.
• Mind the effective date on in-transit cargo. The applicable tariff value is the one in force on the date of filing/assessment — confirm which fortnight's notification applies to your entry.
• Read the exact line and grade. Palm oil has multiple entries (crude, RBD, palmolein); make sure you pick the correct one.
• Diarise the next revision. CBIC revises these values about every two weeks; build the check into your import routine rather than treating it as a one-off.

The Bigger Picture

Tariff-value notifications are among the most routine instruments CBIC issues, but they have a direct cash impact for high-value and high-volume commodity importers. Gold and silver values in particular move with global bullion prices, which have been elevated through 2026; edible-oil values track a volatile global vegetable-oil market. For importers in these trades, tracking the fortnightly notification is simply part of accurate duty planning — a missed revision can mean an entry assessed on the wrong base and a later demand or refund.

Frequently Asked Questions

Does this change the rate of customs duty? No. It changes the value on which duty is calculated for the listed goods. The duty rate and any cess percentages are set elsewhere.

I paid less than the tariff value for my gold — can I pay duty on my invoice price? No. For goods covered by Section 14(2) tariff values, duty is assessed on the notified tariff value, not the transaction value.

Which date's tariff value applies to my shipment? Generally the tariff value in force on the date your bill of entry is filed/assessed. Confirm the applicable fortnight with your CHA.

Where do I find the exact figures for my product? In Tables 1–3 of Notification No. 86/2026-Customs (N.T.), available on the CBIC and ICEGATE portals.

Conclusion

Notification 86/2026 is a small, routine instrument with a direct effect on anyone importing bullion, edible oils, brass scrap or areca nuts: from 16 October 2026 your duty is assessed on new government-fixed values. Update your costings, file new entries on the revised figures, and keep tracking the fortnightly revision so your landed-cost numbers stay accurate.

This article summarises CBIC Notification No. 86/2026-Customs (N.T.) for general guidance. Tariff values are revised frequently — always confirm the current figures for your exact tariff line in the official notification on the CBIC/ICEGATE portal and with your customs broker before filing.