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.
Here are some examples of products covered by HSN Code 403:
The HSN tax rate for products covered by HSN Code 403 varies depending on the product. For example, the HSN tax rate for butter milk is 5%, while the HSN tax rate for cheese is 12%.
To find the HSN tax rate for your specific product, you can use the HSN Code Tax Calculator on the website of the Central Board of Indirect Taxes and Customs (CBIC).
There are several benefits to using the correct HSN code for your goods, including:
Using the correct HSN code will help to ensure that your goods are cleared through customs quickly and efficiently.
Using the correct HSN code will help to ensure that you are paying the correct tariffs and duties. This can save you money on your import and export costs.
Using the correct HSN code helps to improve trade statistics, which can help governments to make better trade policy decisions.
HSN Code 403 is important 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.