India Not to Allow Imports without HSN Code
On 15th January, 2020, the government said that no imports will be allowed without Harmonized System Nomenclature (HSN) code into the country.
- At present, traders need to mention HS Codes in the Bill of Entry (BoE) while importing goods into the country.
- India maintains 8 digits Harmonised Codes under Indian Trade Classification (ITC-Harmonised System), 2017.
Objective
- To curb the imports of non-essential items such as toys, plastic goods, sports items and furniture, especially from China.
Need
- It has been observed that many importers while filing Bill of Entry with the Customs Authorities are not doing due diligence in mentioning the ....
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