HS Code Guide · EPM Subvention
HS Code 410799 Meaning — Leather, bovine/equine, further prepared (non-whole): Global Trade, India & Factoring Guide
HS 410799 covers leather, bovine/equine, further prepared (non-whole). This guide explains what the code includes, its global trade, India's position, how GIFT City helps factor it, and whether MSME factoring qualifies for the 2.75% interest subvention.
What this HS code covers
HS 410799 sits in 41 — Raw hides, skins & leather. Official tariff description: “Leather; further prepared after tanning or crusting, incl. parchment- dressed, of bovine (including buffalo) or equine animals, no hair, excluding leather of heading 41.14, and whole hides and skins, and sides, (full grains, unsplit and grain splits)” In plain terms, it covers leather, bovine/equine, further prepared (non-whole). Classification decides duty and documents; this 6-digit line is in the DGFT positive list (Trade Notice 25/2025-26 Annex V), so MSME factoring under it qualifies for the 2.75% subvention — details below.
What is HS 410799?
HS 410799 covers finished bovine/equine leather — further prepared after tanning/crusting, not whole hides/sides (410792), not patent (411420).
Official description: Leather; further prepared after tanning or crusting, incl. parchment- dressed, of bovine (including buffalo) or equine animals, no hair, excluding leather of heading 41.14, and whole hides and skins, and sides, (full grains, unsplit and grain splits)
What HS 410799 does in trade
- Classifies finished leather where cut pieces drive duty vs whole hides — distinct from raw hides (4101) and crust (4107).
- Is eligible — finished leather is in the positive list, so factoring qualifies for 2.75%.
- Enables factoring for tannery MSMEs with 60–90 day terms to footwear/handbag makers.
Global perspective — where HS 410799 moves
Global finished leather trade is tannery-driven, Italy-led for luxury. Sustainability (LWG) matters. China and India are volume tanners.
| Top global exporters | Top global importers |
|---|---|
| Italy | China |
| Brazil | Italy |
| China | Vietnam |
| India | Germany |
| United States | Hong Kong |
India's stance on HS 410799
India (Kanpur, Chennai, Kolkata) is a top-5 finished leather exporter — CLE tannery MSMEs supply EU/China. LWG compliance grows.
Export docs to watch
Leather needs CLE RCMC and for EU REACH/chrome compliance.
GIFT City — factoring HS 410799 in foreign currency
Leather is USD/EUR to EU/China — GIFT City FC factoring retains 2.75%.
Trad can route eligible invoices via an IFSCA-regulated IBU or Finance Company/Finance Unit undertaking factoring in GIFT City. The 2.75% subvention is identical whether you factor via India (RBI-regulated) or GIFT City (IFSCA-regulated) — the choice is about currency, banking relationship and buyer location, not the benefit rate.
Common financing stack for this HS
Factoring advances 70–90% in 24–48 hours after invoice verification; balance minus discount/fees on buyer payment. Works alongside packing credit — factoring covers the post-shipment open-account gap.
MSME subvention — is HS 410799 eligible for 2.75%?
Yes — HS 410799 is in the positive list (Trade Notice 25/2025-26 Annex V). MSMEs involved in international value chains with a valid active IEC (not in DEL) and valid Udyam can claim 2.75% per annum on the factoring interest cost element when factoring via an RBI/IFSCA-regulated entity.
| Check | For HS 410799 |
|---|---|
| In positive list (HS-6) | Yes — 410799 listed in Annex V |
| Benefit | 2.75% p.a. on interest cost element |
| Annual cap | ₹50 lakh per MSME per FY |
| Valid from | Prospectively from 20 Feb 2026 |
| Need UIN per factor? | Yes — declaration of intent before factoring, valid till FY-end |
| Eligible factors | RBI-regulated (AD bank / factoring NBFC) or IFSCA-regulated (GIFT IBU/FC) |
| Not covered | Deemed exports (FTP Ch.7) & exports to SEZs |
Eight-digit HS? Use first 6 digits
Eligibility is at HS-6. If your 8-digit HS (e.g. 41079910) starts with 410799, it inherits this eligibility. Verify on the HS checker — enter 6 or 8 digits.
Check HS 410799 — free
Verify any 6 or 8-digit HS against the DGFT positive list and see the 2.75% factoring eligibility in seconds.
Open HS checkerFrequently asked questions
What is HS 410799 — Leather, bovine/equine, further prepared (non-whole)?
HS 410799 covers finished bovine/equine leather — further prepared after tanning/crusting, not whole hides/sides (410792), not patent (411420).
Is HS 410799 eligible for the 2.75% interest subvention?
Yes. HS 410799 is in the DGFT positive list (Trade Notice 25/2025-26 Annex V, 4139 HS-6 lines). MSMEs factoring exports under this line via RBI/IFSCA-regulated factors can claim 2.75% per annum on the interest cost element, capped at ₹50 lakh per MSME per year, prospectively from 20 Feb 2026. Requires valid IEC (not in DEL), valid Udyam, and a UIN per factor obtained before factoring.
Who can claim the 2.75% for HS 410799 and how?
MSMEs (as defined by Ministry of MSME) with active IEC and Udyam, factoring eligible exports of HS 410799 via RBI/IFSCA-regulated entities. File a declaration of intent on the DGFT portal to get a UIN per factor (valid till FY-end), factor the invoice, the factor files monthly IEC-wise claims; subvention is credited to your IEC-linked bank account.
Can HS 410799 be factored via GIFT City?
Yes. IBUs and Finance Companies/Finance Units undertaking factoring in GIFT City (IFSCA-regulated) are eligible financial institutions under IFSCA circular 19 Mar 2026 and must extend the 2.75% benefit. Useful for USD/EUR receivables where you want foreign-currency factoring.
What does factoring for HS 410799 cost after subvention?
Indicatively, factoring discount/interest is priced commercially (often 8–12% p.a. depending on buyer, tenor, currency) plus factoring fee ~0.5–3% ⚠️. The 2.75% offsets only the interest element — e.g. a 9% interest cost becomes ~6.25% effective on that element if eligible. Fees/insurance/FX remain. Compare all-in cost.
Related HS codes
Compare HS 410799 with other MSME-export lines in the same chapter or family.
See all codes on the HS code guides hub, or read the 2.75% subvention deep-dive.