The Harmonized System (HS Code) or HSN Code is an international standard system to classify the product. The HS Code was created and maintained by the World Customs Organization WCO. 200 countries are members of the WCO. 99% of the commodities traded internationally are coded. The Harmonized Code list has 5000 categories. The items are cataloged in 99 chapters. Each chapter has 21 sections. The well-organized code has allowed for universal acceptance. The HS allocates 6 digits for classifying goods. The HS Codes allow custom authorities around the world to assess and duties and taxes. The WCO adds commodities to the list and deletes commodities from the HS code list.
India HS Code list is called Indian Trade Classification or ITC-HS Code. ITC HS-code derived from the HS Code was later adapted to suit import and export in India. The ITC Code is created and modified by the Directorate General of Foreign Trade (DGTF). The ITC –HS Schedule has two schedules:-
The ITC HS Code has an 8 digit code. Any business with a turnover of 1.5 crores and less than 5 crores, uses an 8 digit ITC Code. Companies with turnover greater than 5 crores have a use a 10 digit ITC Code.
The ITC HS Code allows customs officials to regulate goods entering and leaving. The HS Code is used for:-
The trader is responsible for using the correct HSN Code. Using the incorrect code can result in fines, delays, or paying extra taxes. The HSN Code search can be easily found in leading market research companies like Export Import Data Solutions Pvt Ltd that specializes in import-export trade data. The HSN code Search is easy to navigate allows users to find the product through the ITC Code. The user can view the import or export data for any commodity.
We provide HS code Import Data for all the products listed in the ITC Schedules. View the required import data after selecting the HS code. The comprehensive database gives you a detailed analysis of the commodity for India. You can concurrently view the import and export data.
We provide a detailed HS code Export Data for India. The easy to navigate schedule allow users to view both import and export data. You can purchase the entire export database for your product with any country you select.
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