State Minister of Finance Mr. Ranjith Siyambalapitiya says that HS Codes will be introduced for 142 new types of goods from yesterday (01).
He claims that this step was taken with the aim of facilitating and streamlining imports and exports.
In import and export activities, each product has a separate customs code or HS Code.
HS code numbers play an important role in international imports and exports.
They consist of 6-10 digits assigned to specific goods by customs authorities.
The goods are also listed using these code numbers in the import and export control.
Taxation is different for goods belonging to each code.
This code system is developed from a global index base used to describe each product imported or exported.
It is the standard product naming and coding structure used in international trade.
HS codes allow border authorities to have a shared understanding of what is being imported and exported, regardless of differences in languages spoken and local tariffs.
Under the law affecting customs, it is up to the importer to determine the correct HS code.
They should also take responsibility for applying the correct classification to the relevant shipment.
Anything you keep at home or bought is a commodity classified under HS code.
Inland revenue department those days commissioner general of Inland revenue Mr. Suseelar done properly according to the cusdec number all taxes collected according to input taxes with value addedition tax payer file if not filled sending remind and assessment notice taxes collections updated properly.
Finance ministers get something from taxpayers and mislead the taxation therefore treasury accounts has fallen. country becomes bankrupt.
Sajith, anuraD, wimalW and some other oppositions gossiping “හොරුන්ගෙන් මුදල් අරං රජ කරනවා” nothing happen to motherland without political games please give proper instructions to IRD all employee include commissioner general of Inland. brings back the country to development country.
Whats all this crap of HS Codes another polotical game to put money in these baboons pockets. We need a peoper system like of old, open all imports and levy a steady tax. Stop this restriction and this points system this is all nonsence.