NEW DELHI: The Director General of Foreign Trade (DGFT) has asked the
trade and industry to be careful while mentioning Harmonised (HS) Codes
in the Bill of Entry, in case of imports and Shipping Bills in case of
exports.
It has asked them to indicate the specific HS Codes of items at 8 digit
where they exist, instead of using the ‘Others’ category in a loose and
inaccurate manner.
The DGFT warned that any wilful mis-declaration of HS Codes will be
duly dealt with under Foreign Trade (Development & Regulation) Act,
1992.
India maintains 8 digit HS Codes under the Indian Trade Classification (Harmonized System) 2017.
DGFT said it has observed that many importers while filing Bill of
Entry with the Customs Authorities are not doing due diligence in
mentioning the correct HS Codes at 8 digit level.
It said that even though specific codes are available for the imported
items under ITC (HS), 2017, Schedule – 1 (Import Policy), importers tend
to casually adopt the ‘others’ category, which is essentially a
residual category of the relevant products.
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