HS Codes of Heading 7323 : Table, kitchen or other household articles and parts thereof, of iron or steel; iron or steel wool; pot scourers and scouring or polishing pads, gloves and the like, of iron or steel.
Correspondingly, how do I create a HSN code in SAP?
Beside this, how do I find the HS Code for my product?
The HS code for your product will be listed on the commercial invoice a buyer receives with their order. It may be used to classify products upon export and to calculate applicable taxes and duties upon import.
Is GST applicable on furniture?
Current average VAT rate applicable on iron or steel furniture is 12.5% whereas under GST except for wooden furniture, any other articles of furniture would be charged tax at the rate of 28%. … ITC will be available to the manufacturers @18% of the iron or steel purchased under GST.
Is HS Code required on commercial invoice?
An HS code consists of at least six digits and is used by customs to classify the product being shipped. … If you don’t include the HS code on the commercial invoice and other shipping documents, you risk the receiver paying the wrong tax and could possibly delay the shipment.
Is HS Code same for all countries?
Being an internationally recognized standard, the first 6 digits of the HSN Code are the same for all the countries. But for further classification countries have added more digits to their respective HS Code systems.
What is clothing HS Code?
What is HSN code in GST?
HSN code stands for “Harmonized System of Nomenclature”. This system has been introduced for the systematic classification of goods all over the world. HSN code is a 6-digit uniform code that classifies 5000+ products and is accepted worldwide.