The Hindu Business Line : Cabinet clears excise tariff amendment Bill

The Bill seeks to have a common harmonised system of nomenclature (HSN)-based eight-digit classification code for central excise in line with the existing eight-digit classification code being adopted for customs and the Exim statistics.

Sources said the main objective of the proposed legislation is to have a common classification code for both customs and central excise in alignment with the code followed by the Directorate General of Foreign Trade (DGFT) and the Directorate General of Commercial Intelligence Services (DGCIS).

At present, manufacturers and exporters/importers have to follow different codes for central excise duty and for countervailing duty (for imports) and drawback (for exports).

The common classification code is expected to eliminate problems due to divergence in different classifications and facilitate electronic data processing (EDP). Besides reducing classification disputes, it will also enable collection of more specific data on commodities of special significance and share them with other government agencies.

The Bill also proposes to incorporate standard units of measurement. These standard units are taken from the World Customs Organisation-evolved internationally accepted standard units. Accounting by reference to standard unit will also enable declaration of easily verifiable values. At present, no standard units of measurement are prescribed in the central excise tariff.

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