Find HSN code and list of HSN code for Tradingby Seair Exim Solution Import Export Data
Harmonized commodity description and coding system or the HSN code or Harmonized System is an internationally recognized code for classifying products. The World Customs Organization (WCO) developed the code in 1988. The headquarters of WCO is in Brussels. Around 200 countries are members of the WCO. Today 98% of the commodities traded are classified by HSN Classification. The classification covers over 5000 commodities traded across the world.
The HSN Classification is arranged in 99 chapters and 21 sections. The 99 chapters are divided into 1244 headings and 5244 subheadings. The HS-Code is a six-digit code arranged legally and logically. The six-digit number has three parts:-
- The first two-digits helps to identify the chapter
- The second two-digits are for the headings
- The last two digits identify the sub-heading
The WCO meets every few years to amend the HSN Classification to add new items or delete items that are not traded anymore. The code was last updated in 2017.
Traders extensively use HSN Code Find to get details on the commodity they trade-in. The code helps them find the total landed cost of the commodities. They use the code to identify selling and sourcing opportunities abroad. The HS Classification is complicated. Traders have the legal responsibility to fill in the correct code. Filling the incorrect code can result in delays, seizures, penalties, and severe cases revoking import privileges. HSN Code find ensures the trader fills in the correct code. There are several resources available to help traders like the Seair Exim Solutions. The company specializes in providing authentic Import Export Data from around the world.
The HSN classification has been modified by countries for domestic requirements. The Directorate General of Foreign trade adapted the HS-Code to create the ITC-HS Code or Indian Trade Classification. The List of HSN Code provides traders with a ready reference to get the latest trade information. The trader can refer to find HSN code to fill in the import documentation.
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Created on Mar 8th 2021 23:24. Viewed 191 times.