What is HS Code?
What is HS Code The HS (Harmonized System) code is an internationally standardized system of names and numbers for classifying traded products. It is developed and maintained by the World Customs Organization (WCO). The HS code is used by customs authorities around the world to identify products for the application of tariffs, quotas, and statistical purposes. It consists of a six-digit code, but countries can extend this to 8 or 10 digits for further classification. Structure of Indian HS Code : The structure of the Indian HS Code (Harmonized System Code) is typically based on the international Harmonized System (HS) established by the World Customs Organization (WCO). Here's a breakdown of its structure: Chapter (2 digits): The first two digits indicate the chapter under which the product falls. There are 99 chapters in the HS system. Example: 09 for Coffee, tea, mate, and spices. Heading (4 digits): The next two digits specify the heading within the chapter. Headings provide mo...