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Importance of Harmonized System Code in Trade Business

Properly categorizing your items will actually help your clients to evade nasty delays in customs for driving your international e-commerce development. And all this happening by using the right and updated HSN Code. It is also known as harmonized commodity description and HS code as a short form. Basically, this system was established to ease the collection of trade stats and also helps in the collection of customs duties and tariffs.

For many years, countries have been using their own HS Classification systems for categorizing goods and services.

Without this universal standard system, no country is capable of collecting customs duties and tariffs properly. In the Indian HS Code List, WCO has mentioned all the products by 6 digits HS Code. This six-digit classification system categorizes products by chapter, heading, and subheading.

Understand the role of Harmonized System Code in the global trade:-

Those people who have been in the import and export trade arena for years, this system is a necessary source for them. It helps them to correctly catalog their products in trading transactions. At this time, almost every big company is shipping all across the world. Classification is a crucial step in the entire process of the import-export process.

Being an importer or exporter, it is required to completely understand and make proper use of it. All and all, it is a common term in the global trade language. Also, it is the most crucial element to bring standardization global trading.

Harmonized System Code is accepted and implemented by more than two hundred nations worldwide for purposes of:-

  • Tariffs
  • Collecting global trade stats
  • Monitoring controlled products
  • Internal taxes

Always trying to search the right HS code list for your products because a wrong one can lead to:

  • Border delays
  • Denial of import privileges
  • Seizure of products
  • Non-compliance penalties        

In the past, it was really difficult to find out the right and updated HS Code of your product due to the shortage of trusted sources. But now systems have developed and advanced which make easy for one to solve problems related to trade, import-export, customs, tariffs and anything else.

Nowadays, the online market is flooded with a lot of market research companies which aim to solve every problem related to HS classification. One of them is SEAIR Exim Solutions, just contact them on the given below details and apply to obtain an authentic list of HS code.

Seair Exim Solutions is an import and export data provider company in Delhi, India. It provides 100% genuine, actual and reliable global trade data of more than 80 countries in the world like India, USA, Russia, Mexico, Peru, Pakistan, Indonesia, Vietnam, Kenya etc. You can also get free SAC code list, Custom duty finder, GST rates list, and many more resources related to trade business.

For free sample data report and free live demo search contact us-

Phone No: +91-11-41325515, + 919990020716

Email Id-

  • Seair Exim
  • 11-Oct-2019

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