Friday, 30 December 2016

Harmonised System Nomenclature 2017 for imports / exports effective from January 1, says CBEC

CBEC notifies implementation of changes from WCO Harmonized System Nomenclature 2012 version to 2017 version w.e.f. January 1, 2017; New version, as notified vide Sections 141 and 146 of Finance Act 2016, includes 233 sets of amendments, divided as follows - agricultural sector 85, chemical sector 45, wood sector 13, textile sector 15, base metal sector 6, machinery sector 25, transport sector 18, and other sectors 26; Directs importers, exporters and CHAs to ensure classification of goods in accordance with HSN 2017 while filing Customs declarations for goods to be imported / exported from January 1st; Customs RES software providers shall also equip their RES packages in line with new version for smooth implementation : CBEC

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