HS Codes
The World Customs Organization (WCO) developed and introduced the Harmonized System of Nomenclature (HSN) into the market in 1988. Since then, the Harmonized System (HS), which is used globally, has undergone five changes. More than 150 countries frequently use this code, which lists more than 5000 commodities. It is a universally recognised multipurpose instrument for trade and customs procedures.
At the moment, more than 95% of trade is governed by the WCO, and every country, including India, uses and abides by the 2017 amended regulations.
HSN code implementation in India.
The coding for the Harmonized System of Nomenclature is dependent on a set of standards. Here are several examples:
– Regardless of turnover, any company that engages in export or import must use an 8-digit code.
– Companies with an annual revenue of less than 1.5 crore INR are not obliged to have a code.
- Any firm with an annual revenue greater than 1.5 crore INR and less than 5 crore INR must use a two-digit code.
- If a business has an annual revenue of more than 5 crores INR, a 4 digit number is a need.
Take Your Tile Business Export to the Next Level !
Export Data with HS Code
Seair Exim offers export data using the Harmonized System Code for more than 80 nations, including India. You can select this code from the provided list for any country to obtain export information specific to that nation. View export samples of the product you have chosen. View the data fields as well and state that you want to purchase all export information for the chosen product from a specific nation.