Harmonized System Code List
The harmonized system code or HS code list is essential for anyone
dealing with international trade. It is because, by using these codes, a
detailed invoice preparation is not required by the importers and exporters in
trading. The customs department’s work is made simple as they can check the
goods or commodity details by just checking the six to ten-digit codes present
on the shipment invoice. Thus, goods movement in foreign trade is not stuck with
the customs department at seaports and air cargo terminals. These codes have
made the goods movement faster in trading across this globe by sea, air, and
across the internal border roads. Seair
Exim Solutions are the export import data service provider. They provide
the latest list of HS codes 2020.
HS Classification is easy to understand if you can read and understand them in any
language. To know about HS classification, you need not be from a commerce
background, do gradation is international business or must be into
import-export business. Here, we have explained them in simple language.
Example of HS Code
- · HS Code consists of 10-digits numbers like 1234567890
· These 6-digits number comes under a product classification and section under a sub-heading.
· The last four-digits or 7890 stands for customs tariff or duty. It is the tax payment of the value of the goods in trade.
Hs code search is standardized by WCO and is accepted by more than 150
participating countries in foreign trade. The customs department, ICDs,
clearing and forwarding agents, shipping agencies, importers, and exporters
benefit from the use of HS codes in trading. Today, it is one of the best
practices and compliance to be followed by the people involved in international
trading.
HS Code List Search online is the best to check on export import data solution. Here, you can check on the
HS code toolbar 24/7. This tool will help you to get an HS code of a commodity
by entering that commodity name. It will generate the commodity name by
entering the HS code. Thus, it works two ways, as many of the people cannot
memorize all the 5000 plus commodities in international trade. If you cannot find
the code, you can search for the nearest commodity classification and see that the
commodity type matches the HS code list. In this way, you will get the HS code by
searching online.
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