Developed by the “WORLD CUSTOMS ORGANIZATION” in the year 1988, Harmonized System Code or HSN Code is a multiuse global product classification system. Five revisions in HS Code have been taken place since the year it has introduced. This code is mainly used to categorize an item in the import-export business. HSN Codes are made for the business organizations as they need to mention HS codes for their products/commodities.
HSN Codes are mainly used by traders and dealers as they must accept 2, 4, 6, and 8 digits codes depending on their business requirements.
In HSN System, the classification of products is done into
In this blog, we’ll talk about 4 digits HS Code system.
4 digits HS code is used by dealers, traders and entrepreneurs who have an annual business turnover above Rs. 5 Crores.
Four digits HSN code covers chapter and heading, first two digits indicate chapter and the next two digits indicate heading. Let’s take an example of 4 digits HSN Code to understand this system better:-
4 Digits HSN Code- 0901
In this code, 09 is a chapter that is for Coffee, Tea, Mate, and Spices.
And 01 is a heading that is for Coffee, whether or not roasted or decaffeinated; coffee husks and skins; coffee substitutes containing coffee in any proportion.
4 Digits HS Code Export Data India 2018 is given below-
1. HS Code 5703: “Carpets and Other Textile Floor Coverings, Tufted, Whether Or Not Made Up.”
All these products come under HSN Code 5703 and exported by India at the amount of $10293.89803 million in 2018. The export amount of these products contributes 6.78% in the entire worldwide export transactions.
2. HS Code 2710: “Petroleum Oils and Oils Obtained From Bituminous Minerals, other Than Crude; Preparations not Elsewhere Specified or Included, Containing by Weight 70% or More of Petroleum Oils or of Oils Obtained from Bituminous Minerals, These Oils Being the Basic Cons.”
India has exported all these products at the amount of $7018.042479 million in the year 2018. The overall contribution of these goods to the worldwide India’s export trade is 4.62%.
3. HS Code 3004: “Medicaments (Excluding Goods Of Heading 3002, 3005 Or 3006) Consisting of Mixed or Unmixed Products for Therapeutic or Prophylactic Uses, Put Up In Measured Doses (Including Those in the Form of Transdermal Administration Systems) or in Forms or Packings for Retail Sale.”
According to the export figures or statistics of 2018, all these products which come under HS code 3004 have been exported by India to foreign countries at the amount of $6336.695612 million. This export value represents a 4.17% contribution to the worldwide export business.
4. HS Code 1006: “Rice Put Up In-Unit Container and Bearing a Registered Brand Name [Rate Ref By Sno 51 In Sch I Of Ntfn 01/2017 IGST].”
India has exported rice at the amount of $5757.319457 million in 2018. The total export value of this product shows 3.79% input to the worldwide export trade of India.
5. HS Code 8905: “Light-Vessels, Fire-Floats, Dredgers, Floating Cranes, and other Vessels the Navigability of Which Is Subsidiary to Their Main Function; Floating Docks; Floating or Submersible Drilling or Production Platforms.”
In the year 2018, India has exported all these products at the amount of $4902.772002 million. The overall export price of these goods shows 3.23% participation in India’s export trade.
6. HS Code 8411: “Turbo-Jets, Turbo-Propellers, and other Gas Turbines.”
At the amount of $4279.570233 million, India has exported all these goods in 2018 which come under 8411 harmonized system code. The export value of this HS code contributes 2.82% in India’s global export trade.
7. HS Code 8703: “Motor Cars And Other Motor Vehicles Principally Designed For The Transport Of Persons (Other Than Those Of Heading 8702), Including Station Wagons And Racing Cars.”
India has exported several motor vehicles including cars at the amount of $3616.754365 million to its exporting partners in the year 2018. All the motor vehicles have contributed 2.38% in the worldwide export business of India.
8. HS Code 8708: “Parts and Accessories of the Motor Vehicles of Headings 8701 to 8705.”
Under HSN Code 8708, all the accessories and parts of motor vehicles are mentioned which have been exported by India at the amount of $2533.139509 million in 2018. The entire export value of these products contributes 1.67% to the worldwide export trade of India.
9. HS Code 0306: “Crustaceans, Whether In Shell Or Not, Live, Fresh, Chilled, Frozen, Dried, Salted or in Brine; Smoked Crustaceans, Whether In Shell Or Not, Whether Or Not Cooked Before Or During The Smoking Process; Crustaceans, In Shell, Cooked By Steaming or By Boiling.”
In the financial year 2018, India has exported all these products at the amount of $2284.7179 million to international countries. The total contribution of these products to the global India exports trade is 1.50%.
10. HS Code 6204: “Women’s or Girls Suits, Ensembles, Jackets, Blazers, Dresses, Skirts, Divided Skirts, Trousers, Bib, and Brace Overalls, Breeches and Shorts (other than Swimwear).”
The total export value of these products is $1842.194045 million. India has exported these goods/products in the year 2018. This amount shows 1.21% contribution to the global India’s export trade.
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