As a business owner or manufacturer, it’s vital to have a clear understanding of the Harmonized System of Nomenclature (HSN) code for mobile phones. HSN codes are used to classify goods and services for taxation, customs, and statistical purposes. Failing to understand the correct code for your mobile phones can lead to delayed shipments, financial penalties, and other operational issues. In this comprehensive guide, we’ll help you understand the HSN code for mobile phones.
The HSN code for mobile phones falls under chapter 85 of the HSN code system, which covers electrical machinery and equipment. The code for mobile phones is 8517, and it covers all types of phones, including smart and feature phones. The HSN code for mobile phones is further broken down into sub-categories, depending on the type of phone. For example, under 8517, sub-heading 12 pertains to mobile phones designed to work in cellular networks.
There are vital pieces of information that you need to know about each category and subcategory under the HSN code for mobile phones. This information includes the tax rate, customs duties, and other relevant regulations. For example, under the Indian customs tariff, the tax rate for mobile phones is 12.5% with an additional 4% cess.
It’s essential to note that the HSN code for mobile phones varies slightly between countries. Therefore, it’s crucial to consult the customs authority in your country to ensure that you’re using the appropriate HSN code for your mobile phones.
In summary, understanding the HSN code for mobile phones is vital to ensure smooth operations in your business. The correct HSN code will prevent unnecessary delays, penalties, and other issues which can negatively impact your business. It’s crucial to familiarize yourself with the HSN code for mobile phones, and we hope this comprehensive guide has been helpful. Remember to consult your customs authority for further instructions and guidance.
