Switchover To Ten-digit Customs Classification

New Delhi, Sept 17: | Updated: Sep 18 2003, 05:30am hrs
New Delhi may switch over to a 10-digit commodity classification for levying of customs duty from the 8-digit level at present. A proposal to this effect mooted by the commerce ministry is under the finance ministrys consideration. The move will enable India to come closer to the 10, 11 or 12 digit classification adopted by industrialised countries such as the US and the European Union, say commerce ministry officials.

They said the switch-over to an 8-digit customs classification from the earlier 6-digit level proposed in the commerce ministrys medium term export strategy (MTES) (2002-07) had become effective from February 1 this year.

Officials said the proposal to go in for a 10-digit level would have several advantages. First, there would be sub-division of commodities.