Created by the World Customs Organization or WCO, the HS Code or Harmonized code is an integral part of international trade. The standard was created to describe the transport of commodities across international borders. Importer or explorers must declare products they are trading in using HS Codes. Custom Authorities clear the products based on the HS Code of the product.
Arranged logically the HS Code has well-defined rules. The code has allowed for the uniform classification around the world. 200 countries use the HS Code for international trade. Harmonized code describes 5000 commodities.
The HS Code has the following characteristics:-
Over 98% of products are classified using the HS Code or HSN Code. All products classified in the code use the General Rules of the Interpretation of the Harmonized System. The code is maintained and updated periodically by the WCO. They meet once every 5 to 6 years. The HS Code is used to monitor controlled goods, determine the tariff of the shipment, and by governmental and private organizations.
Countries have altered the HS Code for their administrative purposes. They have added 2 or more digits as per their requirements without changing the first 6 digits. The first digit HS Code is universal. The Indian Code List (ITC) uses 8 digits while the United States (HTS-US) uses 10 digits.
When traders want to import or export their goods they must use the correct classification from the HS Code list. The HS Code is mentioned in all the documentation submitted to the customs authorities. Using the wrong HS Code or using the incorrect code will result in penalties and delays.
Adapted by India from the HS Code for The ITC code created was importing and exporting for taxation and control purposes. The ITC code is divided into:-
The ITC Code is maintained and updated by the DGTF or Directorate General Foreign Trade. There are several tools to carry out an HS code Search India. You can use the DGTF website or private firms. Reputable online import-export trade data provider such as Seair Exim Solutions provides easy to navigate and make data retrieval easy. We have the flexibility to search for data using:-
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