Fin Min revises customs tariff values for edible oils, gold and silver

The Ministry of Finance (Revenue Department) revised the customs tariff values (CTV) for a basket of imports including edible oils, gold and silver. The updated valuations aim to align import duty assessments with prevailing market prices and curb undervaluation. For importers, this means higher assessed duty liability if actual transaction value is below the notified CTV. Legal and compliance teams in trade/import must review cost models, duty planning and retrospective liability exposure.