THE IMPORTANCE OF HS CODE IN THE SHIPMENT OF THE PRODUCTS

1. It is essential for every product of any country, which is going to be shipped should have the HS Code. Without the proper HS Code of the product, the shipment of the product will not be completed. In HS Code, HS stands for harmonized systems. In the export data of India, the details of the HS Code will always be there. It is also mandatory to provide each and every detail of the shipped product along with the HS Code of the product in the Indian Custom Data. HS Code is developed by the World Custom Organization (WCO). According to the Indian Trade Data, the purpose of having the HS Code of the shipped product is that it helps in the classification of the product at an international level and also shows that the product has been shipped from the legal Indian exporters. The HS Code was introduced by the World Custom Organization in 1988. The headquarters of the World Custom Organization is in Belgium and even now also the maintenance of the HS Code of the shipped products of every country comes under the World Custom Organization. There are about 200 members of the World Custom Organization and India being one of the member countries. Not only this, the import export data of India and the export import data of every country which is a member is examined by the World Custom Organization. It comes under the legality of the country that every product which has been shipped and crosses the border must consist of the HS Code on it. After discussing the importance of the HS Code for international shipment, let’s have a look at the various mandatory features of HS Code. The HS Code of any product should consist of at least 8-10 digits, which is the identification number of the shipped product. The code of the various products is classified according to the economic activity of the products and

2. the different materials of the product. There are various commodity groups categorized for the shipped products and about 5000 commodity groups are present there. For example, all the animal products come under the same section. But what is the meaning of the section in HS Code?? Well, the HS Code is divided into 99 different chapters and each chapter consists of 21 different sections. When it comes to the title of the chapter and the sections of the chapter, then the codes of different chapters and sections are very similar to each other. Whereas, when it comes to the codes of the heading and the sub- heading of the sections and chapters, then they will provide you more details about the shipment of the products. Now, let’s have a look at the 8- 10 digits of the HS Code. The first two digits of the HS Code describe the HS Chapter of the shipped product. The second two digits are used to designate the heading and the last two digits depict the sub-heading of the HS Code. There are various countries which have longer HS Codes for the shipped products. The first six digits of the HS Code of every country should be the same. However, the remaining 2-4 digits of the HS Code will differ according to the rules of different countries. Eximine Services is a market research company which helps in providing the latest updates of the trading business, import export business. Import export data and the information of exporters and importers at an international level. For more details about the international trading market, you can visit our website today. Contact Us: email:sales@eximine.com Phone:8929979895 visit: eximine.com