HSN Code 402 covers a wide range of milk and cream products that have been concentrated or contain added sugar or other sweetening matter. These products can be in powder, granules, or other solid forms, and they can have a fat content of 1.5% or more.
Some examples of products that fall under HSN Code 402 include:
Sweetened condensed milk
Evaporated milk
Milk powder
Cream powder
Whey powder
Ice cream mix
Coffee whitener
Non-dairy creamer
Infant formula
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.
It is important to use HSN Code 402 when importing or exporting milk and cream products because it includes several benefits such as:
Using the correct HSN code can help to simplify the customs clearance process and reduce the risk of delays.
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.
HSN codes are used to compile trade statistics. By using the correct HSN code, you can help to improve the accuracy of these statistics.
To use HSN Code 402, 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.
Milk and cream, concentrated or containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content, by weight, exceeding 1.5%: 5% GST
Milk and cream, concentrated or containing added sugar or other sweetening matter, in other forms (including condensed milk and evaporated milk): 5% GST
HSN Code 402 is a valuable tool for businesses that import or export 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.
