Govt will put restrictions on imports of products under ‘others’ category: Piyush Goyal

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Commerce and Industry Minister Piyush Goyal on Wednesday warned against imports under the “others” category and said that within a month, high duty will be imposed on all products categorised as “others” if they are not carry the specific globally accepted tariff code. Goyal said India is facing “big” problem in the country’s imports of a category called “others” and in that category, all sorts of stuff is being imported into the country . “I will follow the German model,” he said at the sixth National Standards Conclave organised by the Confederation of Indian Industry, adding he would wait for response from importers for next 30 days and thereafter, “I will restrict the import of any product which goes in the others category”.

Citing an analysis, he said one out of the four products being imported in India is under this category. Imported products, termed “others”, do not have HS codes and are tagged along with parts and accessories of categorised goods.  He said that importers will have to approach the ministry to take a special licence for that import without which “you cannot import any product in the others category”. “Today, I would like to give a final announcement that I appeal to everybody who is importing any product or services into the country, please categorise your product into a respective HSN code under which it falls,” he said.

Every traded product is categorised under an HSN code (Harmonised System of Nomenclature) which is the global systematic classification of goods. “We will start the process to create a separate HSN code if it is not fitting into any existing code or amend the existing code… Very soon, I shall be coming out with serious consequences. The consequences could be a higher duty on products which come under others category,” he added. This measure, he said, will help the government assess what is being imported into the country.

Read More at: https://economictimes.indiatimes.com/news/economy/policy/govt-will-put-restrictions-on-imports-of-products-under-others-category-piyush-goyal/articleshow/73273624.cms

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