Syncing of HS codes in ITC (HS) 2017- Schedule-1 (Import Policy) with the Finance Act, 2020

Last updated: 23 December 2020

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The Directorate General of Foreign Trade (DGFT) has issued a notification to align the Harmonized System (HS) codes within the ITC (HS) 2017- Schedule-1 (Import Policy) with amendments made by the Finance Act, 2020. This update incorporates specific changes to Exim codes, including those for wall fans, open cells for televisions, and solar cells. The aim is to ensure the import policy accurately reflects the latest financial legislation.

Government of India Ministry of Commerce Industry Department of Commerce Directorate General of Foreign Trade Notification No. 48/2015-2020-DGFT New Delhi, Dated: 22nd December, 2020 Subject: Syncing of HS codes in ITC (HS) 2017- Schedule-1 (Import Policy) with the Finance Act, 2020. S.O. 4645(E): In exercise of powers conferred by Section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (as amended from time to time) read with paragraph 2.01 of the Foreign Trade Pol

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FAQ :

The notification synchronises the HS codes in the ITC (HS) 2017- Schedule-1 (Import Policy) with the changes introduced by the Finance Act, 2020.

Chapters 84 and 85 of the ITC (HS) 2017- Schedule-1 Import Policy have been amended.

The updates include HS codes for Wall fans (8414 51 50), Open cell for television set (8529 90 30), and Solar cells, not assembled or assembled in modules or panels (8541 40 11 & 8541 40 12).

The Finance Act, 2020 was enacted on 27th March 2020.

This notification was issued by the Directorate General of Foreign Trade (DGFT) on behalf of the Government of India.

Notification No : Notification No. 48/2015-2020-DGFT
Source : https://content.dgft.gov.in/Website/dgftprod/29df1387-180d-4cf9-abd2-b15e2ecce9f3/Notification%2048%20english.pdf

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