Understand HS code for Better Trade Activities

January 15, 2020
Seairexim

Trade’ a small word but have a lot of significance. It is required for the economic growth of both the individual and the nation as a whole. But with trade, there comes the movement of the product. The products to have controlled movement require well-defined categorization.

On looking at the export and import activities going across the global countries, the world customs organization introduced the global trade nomenclature known as the HS code. This is a standard 6 digits code same for almost all countries, but varies between 8-10 digits. The code is beneficial for the collection of international trade statistics along with a better understanding of customs tariffs.

Before starting the HS code search (harmonized code), you require a basic understanding list of HS Codes. The code is classified under 21 sections which have 99 Chapters, about 1,244 headings, and 5,224 subheadings.
· Each section is divided into chapters. Each chapter is divided into headings. Each heading is then divided into the subheadings.
· Section and chapter titles describe the broad categories of products, while the headings and subheadings describe commodities in detail.

For more details about hs codes visit at: https://app.ex.co/stories/riyaru11/search-hs-code-india

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