As per the Press Release Date January 15, 2020, issued by Ministry of Commerce and Industry, all the Importers Need to Obtain HSN code for Imports under the Head "Others"
Menu
Importers Need to Obtain HSN code for Imports
Replies (1)
Would like to clarify as below"
DGFT had already issued a trade notice on the subject advising importers not to use HSN of the "others" category casually. Once again they have alerted the importer vide trade notice no.46 dt.:17.01.20 not to use others category of HSN casually without doing due diligence in mentioning the correct HSN codes. In the event of non-compliance by the trade, the policy condition for "others" category will be shifted from "free" to "restricted".
In others words importer need to use HSN of "others" category, only if the items imported by them do not fall under any of the specific HSN and they need to have a detailed study / proper back up for choosing the "others" category HSN. The importer should not use "others" category just because they could not able to find out the correct HSN.
Recent Topics :
- NSE BSE Pre-open session changes from 7 September
- Financial statements for non corporate entities
- Hi experts need some help
- Is SAP FICO a good career option for finance and a
- Direct Cost booking
- TDS on Property Purchase Paid
- Cash Purchase Above ₹10,000, ITR/40A(3) Trea
- TDS on dividend to non resident shareholders
- Best CA Inter classes in Laxmi Nagar for Group 1?
- Gst refund
Related Topics :
CAclubindia
