Everything you need to know about HSN Code 403

Buttermilk, curdled milk and cream, yogurt, kefir and other fermented or acidified milk and cream, whether or not concentrated or containing added sugar or other sweetening matter, fruits, nuts or cocoa

HSN Code 403 covers a wide range of fermented or acidified milk and cream products. These products can be in liquid, powder, or other solid forms, and they can be flavored or unflavored.

Some examples of products that fall under HSN Code 403 include:

Buttermilk

Yogurt

Kefir

Sour cream

Crème fraîche

Cultured milk

Acidophilus milk

Probiotic milk

Flavored yogurt

Yogurt drinks

Frozen yogurt

Yogurt powder

HSN codes are used to classify goods for customs purposes. They are important for businesses that import or export goods, as they determine the tariffs and duties that will be applied.

Why is using HSN Code 403 important

It is important to use HSN Code 403 when importing or exporting milk and cream products because it includes several benefits such as::

Simplified customs clearance:

Using the correct HSN code can help to simplify the customs clearance process and reduce the risk of delays.

Accurate tariffs and duties:

Using the correct HSN code will ensure that the correct tariffs and duties are applied to your goods. This can help you to avoid unexpected costs.

Improved trade statistics:

HSN codes are used to compile trade statistics. By using the correct HSN code, you can help to improve the accuracy of these statistics.

How to use HSN Code 403

To use HSN Code 403, you will need to determine the specific product that you are importing or exporting. Once you have determined the specific product, you can look up the corresponding HSN code in the World Customs Organization (WCO) Harmonized System Nomenclature (HSN) database.

Once you have the correct HSN code, you will need to include it on your customs declaration. This will help to ensure that your goods are cleared through customs quickly and efficiently.

The tax rates for different products under HSN Code 403:

HSN Code 4031000:

Buttermilk:

5% GST

HSN Code 4032110:

Curdled milk:

5% GST

HSN Code 4032190:

Other curdled milk:

5% GST

HSN Code 4032210:

Cream, of all kinds:

5% GST

HSN Code 4032220:

Sour cream, cultured cream, keffir and other fermented or acidified cream:

5% GST

HSN Code 4032290:

Other cream:

5% GST

HSN Code 4032300:

Yogurt:

5% GST

Conclusion

HSN Code 403 is a valuable tool for businesses that import or export fermented or acidified milk and cream products. By using the correct HSN code, businesses can simplify customs clearance, ensure that the correct tariffs and duties are applied, and improve trade statistics.

In addition to the benefits listed above, using HSN Code 403 can also help businesses to: