- India’s CBIC revised tariff values for gold, silver, and crude palm oil effective April 16, 2026.
- The new benchmarks set gold at USD 1,526 per 10 grams for customs duty assessment.
- Notification No. 37/2026-Customs (N.T.) standardizes import costs where transaction value rules do not apply.
(INDIA) — The Central Board of Indirect Taxes and Customs issued Notification No. 37/2026-Customs (N.T.) on April 15, 2026, revising tariff values for gold, silver and crude palm oil with effect from April 16, 2026.
The revised values set gold at USD 1,526 per 10 grams, silver at USD 2,427 per kilogram and crude palm oil at USD 1,141 per metric ton. The notification applies to imported goods in cases where transaction value rules do not apply.
The change gives customs authorities updated benchmark values for duty assessment on those imports. It also resets the reference point used at the border for three closely watched commodities, two precious metals and one edible oil input.
Notification No. 37/2026-Customs (N.T.) follows an earlier revision issued this month. The Central Board of Indirect Taxes and Customs had issued Notification No. 35/2026-Customs (N.T.) on April 2, 2026, and that update took effect on April 3, 2026.
An earlier round came in February. Notification No. 20/2026-Customs (N.T.), dated February 13, 2026, revised tariff values for edible oils, gold, silver and areca nuts with effect from February 14, 2026.
The latest move keeps the cycle of periodic tariff value revisions in place. In this case, the benchmark framework remains in operation for commodities that customs officials assess under tariff value rules rather than transaction value rules.
Gold and silver remain sensitive imports for duty calculations because even small shifts in benchmark values can alter the assessed base for customs charges. Crude palm oil sits in a different chain, feeding into edible oil imports and trading costs.
Importers dealing in these goods will now calculate exposure against the revised rates from April 16, 2026. Where transaction value rules do not apply, the tariff value becomes the figure that drives customs duty assessment.
That creates a direct compliance effect at ports and customs points. Bills of entry and related assessments for covered imports now move under the new benchmarks set out in Notification No. 37/2026-Customs (N.T.).
The update is narrow in scope but precise in application. It covers gold, silver and crude palm oil, and it does so through specific dollar-denominated values tied to standard units of import, 10 grams for gold, 1 kilogram for silver and 1 metric ton for crude palm oil.
Because the values are expressed in fixed terms, they serve as a standardized customs reference rather than a negotiated commercial price. That distinction matters in cases where the usual transaction value route is not available for assessment.
Recent notifications show that the Central Board of Indirect Taxes and Customs has continued to refresh those benchmarks at short intervals. The April 15 order replaces the earlier position from the start of the month and becomes the operative tariff value schedule from April 16, 2026.
Commodity traders and importers in bullion and edible oils will track such revisions closely because customs duty assessments feed directly into landed cost calculations. A benchmark adjustment can change import cost assumptions even before domestic wholesale pricing responds.
In bullion, the effect falls on importers working through customs valuation cases covered by tariff value rules. In edible oils, the revised crude palm oil value feeds into import costing for a commodity that remains central to India’s supply chain.
The notification also preserves continuity with the government’s recent practice of issuing separate customs valuation updates through numbered statutory notices. That sequence now runs from Notification No. 20/2026-Customs (N.T.) in February to Notification No. 35/2026-Customs (N.T.) in early April and then to Notification No. 37/2026-Customs (N.T.) on April 15, 2026.
For customs brokers and import houses, the operational change is immediate. Entries assessed from April 16, 2026 fall under the revised tariff values notified by the Central Board of Indirect Taxes and Customs, with gold at USD 1,526 per 10 grams, silver at USD 2,427 per kilogram and crude palm oil at USD 1,141 per metric ton.
