How do I find the HS Code for my product?
The HS code for your product will be listed on the commercial invoice a buyer receives with their order. It may be used to classify products upon export and to calculate applicable taxes and duties upon import.
How do I find my ITC-HS Code?
HS refers to the Harmonised System of Nomenclature – the codes used worldwide to categorise and identify different products. HS codes have 6 digits. The ITC-HS code takes these 6 digits, and then adds a further 2 for clarity….HS codes are made up as follows:
- 2 digit Chapter code.
- 2 digit Heading.
- 2 digit Subheading.
What is ITC 8 digit code?
ITC-HS Codes or better known as Indian Trade Clarification based on Harmonized System of Coding was adopted in India for import-export operations. Indian custom uses an eight digit ITC-HS Codes to suit the national trade requirements.
What is HS code of a product?
The Harmonized Commodity Description and Coding System, also known as the Harmonized System (HS) of tariff nomenclature is an internationally standardized system of names and numbers to classify traded products.
How do you read HS codes?
The first two digits designate the HS Chapter. The second two digits designate the HS heading. The third two digits designate the HS subheading. HS code 1006.30, for example indicates Chapter 10 (Cereals), Heading 06 (Rice), and Subheading 30 (Semi-milled or wholly milled rice, whether or not polished or glazed).
Is HTS code and HSN code same?
Difference Between HS Codes and HTS Codes The difference between an HS code and an HTS code is the number of digits within the code. A code with six digits is the universal standard HS Code, whereas a code with seven to 10 digits is an HTS Code.
What is HSN code of material?
HSN code stands for “Harmonized System of Nomenclature”. This system has been introduced for the systematic classification of goods all over the world. HSN code is a 6-digit uniform code that classifies 5000+ products and is accepted worldwide.
What happens if I use the wrong HS code?
Using the Correct HS Number The exporter’s certificate of origin will be prepared incorrectly. The goods will be entered into another country under an incorrect classification number. Border customs may dispute the number. Import clearance delays may occur.
What is the difference between tariff code and HS code?
What is a HS code and HTS code used in global trade? The HTS code or HS code are part of a worldwide standardized system of classifying goods in international trade. They are also know as a Harmonized System Code or a Tariff Code.
Is HSN code 4 digit or 6 digit?
Accordingly, codes prescribed in the Customs tariff are used for the GST purposes too (as has been specifically mentioned in the GST rate schedule). In Customs Tariff, HS code is prescribed as heading (4 digits HS), sub-heading (6 digits HS) and tariff items (8 digits).
Is 8 digit HSN code mandatory?
HSN codes of 8 digits are mandatory only in case of export and imports of goods. A registered person having aggregate turnover up to Rs 5 Cr in the previous FY may not mention the number of digits of HSN Code in a tax invoice issued by him under the said rules in respect of supplies made to unregistered persons.