Port codes are assigned to identify different ports across the globe uniquely. These codes help in streamlining the process of identifying ports for customs and other related purposes. In India, the port codes are assigned by the Central Board of Indirect Taxes and Customs (CBIC).
The port codes in India are usually six characters long, with the first two characters representing the country (IN for India) and the next four characters representing the specific port. For example, INMUN1 refers to Mundra Port in Gujarat, while INBOM4 refers to Bombay Air Cargo in Mumbai.
Port codes play a pivotal role in international trade as they help in identifying the specific port of import and export. This information is crucial for businesses engaged in importing and exporting goods, as it helps them to plan their logistics efficiently and ensure timely delivery of products.
Furthermore, port codes are also essential for customs authorities to process and clear shipments. They help in simplifying the documentation process and ensure that the correct duties and taxes are levied on the imported or exported goods.
In Table 6A of GSTR-1, some fields are mandatory without which any person who is making export supply can neither claim a Refund of Integrated Goods and Service Tax (IGST) paid nor claim Input Tax Credit (ITC). There can be 2 types of Export supplies:
- Export of Goods
- Export of Services
Under Export of Goods India, Port Code is required but in the case of Export of Services, no Port Code in India is required in the GST return.