What is the HS Code for boat parts?

What is the HS Code for boat parts?

3000 – Parts For Yachts Or Pleasure Boats Of Head 8903,parts Of Canoes,racing Shells,etc –

How do I find an HS code?

You can use this link: http://www.foreign-trade.com/reference/hscode.htm to help determine what the HS code for your product should be. The HS code is important for buyers when importing your products and can be added to your product in the Info section of the Products tab in your Supplier Center.

Is HS code same for all countries?

HS codes are in principle harmonised across most countries around the world however some exceptions exist. HS codes are used for a number of purposes. They enable the customs authorities to identify the product and apply the appropriate import duty as well as other taxes and trade measures.

Is HS code 8 digit or 10 digit?

ITC-HS was adopted in India for Import-Export operations. ITC HS Codes are divided into two parts or schedules, the first schedule has the 8 digit nomenclature and the second schedule includes the description of goods.

How do you read HS codes?

The first two digits designate the HS Chapter. The second two digits designate the HS heading. The third two digits designate the HS subheading. HS code 1006.30, for example indicates Chapter 10 (Cereals), Heading 06 (Rice), and Subheading 30 (Semi-milled or wholly milled rice, whether or not polished or glazed).

How do I find my 8 digit HSN code?

The Bifurcation of HSN Code The chapters are further divided into headings, sub-headings and tariff items. In the 8 digit structure of an HSN Code, the first 2 digits define the Chapter, at 4 digit level are the headings, at 6 digit are the subheadings and finally at 8 digit are the tariff items.

What is the difference between HS code and HSN code?

What is the difference between HSN and HS code? HSN Code is the same as the Harmonised System Code (HS Code) in shipping. However, it is more commonly known as the HSN in India. Like the HS Code list, each of the HSN codes for import and export of goods comprises six digits.

What is a 6 digit HS code?

The World Customs Organization’s Harmonized System (HS) uses code numbers to define products. A code with a low number of digits defines broad categories of products; additional digits indicate sub-divisions into more detailed definitions. Six-digit codes are the most detailed definitions that are used as standard.

Is HSN code 6 digit or 8 digit?

HSN code is a 6-digit uniform code that classifies 5000+ products and is accepted worldwide. It was developed by the World Customs Organization (WCO) and it came into effect from 1988.

How do I find my 6 digit HSN code?

What Exactly Is an HSN Code?

1. The first two numbers reflect the HSN code chapter (39)
2. The following two numerals (08) are the chapter headers.
3. The next two digits (90) denote the sub-headings, followed by six digits.
4. The following two digits (20) subdivide the tariff heading of the products during supply import and export.

How many HS code are there?

How many Harmonized System (HS) shipping codes are there? There are approximately in circulation 5,300 HS codes that identify export goods that are broken down into headings along with subheadings. They are also arranged into 99 different chapters around with being grouped into 21 sections.

How do I find my 8 digit HSN?

Is HSN code 4 digit or 6 digit?

GST Notification 78/2020-Central Tax, dated 15.10.

The Govt has reserved the power to notify upto 8 digits. HSN codes of 8 digits are mandatory only in case of export and imports of goods.

How do I find my HSN code online?

Use ClearTax HSN Calculator to find out the HSN code for your product. Our ClearTax GST Software has all the HSN codes inbuilt.

How do you read a 8 digit HS code?

Understanding the Structure & Bifurcation Of HSN Code
In the 8 digit structure of an HSN Code, the first 2 digits define the Chapter, at 4 digit level are the headings, at 6 digit are the subheadings and finally at 8 digit are the tariff items.

Who can use 8 digit HSN code?

HSN codes of 8 digits are mandatory only in case of export and imports of goods. A registered person having aggregate turnover up to Rs 5 Cr in the previous FY may not mention the number of digits of HSN Code in a tax invoice issued by him under the said rules in respect of supplies made to unregistered persons.

What is the HSN code for 12% GST?

HSN Code 0101 to 2202 for 12% GST Rate Items
[Substituted w.e.f. 01.01. 2022 vide Notification No. 18/2021-Integrated Tax (Rate), G.S.R. 893(E) dated 28.12.

What product is 18% GST?

What Falls Under the 18% GST Rate? Household products, including hair oil, toothpaste, shampoo, etc. All devices for length measuring by hand, like measuring tapes, callipers, etc.

Who can use 4 digit HSN code?

A taxpayer having turnover of upto Rs 5 crore in the preceding financial year is required to furnish 4 digits HSN code on B2B invoices. Getty Images Manufacturers were furnishing these codes even in the pre-GST regime.

What is GST in HSN code 9954?

GST Tax Rate: 18%

Is GST 12% or 18 %?

GST on Loans and Advances
The rate of Service Tax was 15% which has now increased to 18% for GST.

What product is 28% GST?

GST Tax Slab of 28%
Services – Hotel stay wherein bill is > INR 7,500, gambling, go-karting, ballet, club services such as casinos, theme parks, amusement parks, and joy rides.

Who can use 6 digit HSN code?

GSTN implemented mandatory mentioning of 6 digit HSN codes in GSTR-1 for turnover above 5 crore. The GSTN has implemented mandatory mentioning of 6 digit HSN codes in GSTR-1 for turnover above 5 crore on the GST Portal. It shall be available for the taxpayers w.e.f. 1st August, 2022.

What HSN code is 9988?

Manufacturing Services.

What is the GST rate for HSN code 9987?

Maintenance Services.