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NEW HSN CODES
HSN classification muddle raises costs for battery storage sectorThe industry has sought separate HSN codes, an approved manufacturer list and tighter local content norms, along with clarity on customs du...- SEZs seek duty relief for three years, higher domestic sales limitSpecial Economic Zone developers and units are urging the government for extended domestic sales concessions. They want a three-year period...
- Guidebook on mapping of Harmonized System of Nomenclature (HSN) codes unveiled by Piyush GoyalPiyush Goyal, Union Minister of Commerce and Industry, released the Guidebook on Mapping of Harmonized System of Nomenclature (HSN) Codes p...
- New GST rate and HSN code list: FinMin notifies latest slab rates in seven schedulesThe Ministry of Finance has revised the GST rate framework, effective September 22, replacing the June 2017 notification. This new structur...
- New GSTN advisory: GST registered suppliers must take note of these new changes made in GSTR-1 from January 2025When you file GSTR-1 on or before February 11, 2025, the specified new rules will have to be followed otherwise the return will be consider...
- India working to develop HSN codes for certain varieties of riceOfficials said that India is in the process of developing new Harmonised System of Nomenclature (HSN) codes for specific rice varieties to ...
- Looking at developing HSN codes for certain varieties of rice: OfficialAccording to a presentation of the Agricultural & Processed Food Products Export Development Authority (APEDA), they are working on separat...
- Government cracks the code to track recycled textiles tradeThe textiles ministry has kick-started the process to create separate tariff codes - called HSN (harmonised system of nomenclature) codes i...
- DGFT lays out procedure for exporters to apply for amnesty schemeThe government announced the new foreign trade policy (FTP) on March 31. It included an amnesty scheme for exporters for one-time settlemen...
- HS 2022- How the change may affect trade, GST and its impact on the upcoming budgetHSN 2022 has been prepared to clarify several high-profile product streams to recognise the change in trade patterns.
- Six digit HSN code in GST made mandatory from April 1A taxpayer having turnover of upto Rs 5 crore in the preceding financial year is required to furnish 4 digits HSN code on B2B invoices.
- Government makes it mandatory to mention 8-digit HSN Code in tax invoice for 49 chemical based productsWhile notifying the HSN Code for these products, the Central Board of Indirect Taxes and Customs (CBIC) said, "A registered person shall me...
- Common tariff code glitch creates minor roadblock for mask exportsSmriti Irani-led textiles ministry has initiated talks with commerce ministry on how to address the issue. “The issue is all masks have the...
- High duty on non-categorised imports: Piyush GoyalCommerce and industry minister Piyush Goyal has warned against imports under the 'others' category and said that within a month, high duty ...
- Govt will put restrictions on imports of products under 'others' category: Piyush GoyalIn trade parlance, every product is categorised under an HSN code (Harmonised System of Nomenclature).It helps in systematic classification...
- 4 days to GST - Firms stumble upon last-mile challengesAt a meeting of small and medium enterprises (SMEs) in Noida last week, a businessman said his chartered accountant had increased fees from...
- Common tariff code for goods next fiscalStates planning to unveil a common tariff code for classification of goods may now be able to operationalise it only in the next fiscal.
- New classification baffles forest produce exportersThe new harmonised system of nomenclature (HSN) under the Indian tariff classification (ITC) system launched on January 1 has thrown forest...
- HSN reclassification to hit exports of forest productsThe new harmonised system of nomenclature (HSN) under the Indian Tariff Classification (ITC) system launched on January 1 has thrown forest...
- VAT call: States plan uniform tariff codesAfter drawing flak from all quarters over the deviation in rates, states have got into the act to bring about some uniformity and standardi...
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