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How To Find Relevant HS Code For Products In India Online - Business - Nairaland

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How To Find Relevant HS Code For Products In India Online by exportimports: 7:31am On Feb 07, 2020
A large number of corporations are shipping globally. In the export-import business, the classification of any good is an essential stage in the entire process. An international standard classification system is needed and very important. This is the main reason why HS (Harmonized System) code has been announced. The code was introduced in 1988 and it is maintained by WCO i.e. known as the World Customs Organization. Being an exporter or importer, it is compulsory to understand the proper use of HS code. In India, this code is known as the Customs Tariff Code. This one is a globally standardized method of numbers and names to organize all traded goods.

Just go ahead and I’ll clarify all the important details you need to know about HS Code India( https://www.exportimportdata.in/hs-code) with a structure, an appropriate example, and of course its importance.

Let me define the Structure of HS Code India:

If I’m talking about India, all the products or services are categorized into 98 chapters and 22 sections in the HS code. It’s a fact that the first six digits of HS code are similar for all the nations. The customs of India alters harmonized system code by adding 2 or 4 digits as per their needs without changing the first six digits.

The HS Code India consists of 8-10 digits. So, the first 6 digits are unbroken across the world and the last figures are national subheadings consigned by India. Now, I take an example to understand the entire structure of the HS Code in India. Let’s took HS code of Guava i.e. 08045010

Chapter 08- Edible fruits and nuts, peel of citrus/melon
Heading 04- Dates, figs, pineapples, avocados, guavas, mangoes and mangosteens fresh or dried
Subheading 50- Fresh/dried mango, guava or mangosteen
Subdivision 10- Fresh or dried guava
Why do you need HS Code India when exporting to India?

There are several reasons why harmonized system codes are required to organize goods in a nation, including India. Here are listed a few specific reasons why HS codes are important.

It is immensely used in-

Collection of internal taxes
Transport tariffs and statistics
Rules of origin
Customs tariffs
Trade negotiations
Collection of international trade statistics
Monitoring of controlled products
Areas of customs procedures and controls including information technology, risk assessment, and compliance

History of HS Code India

Before the starter of HS code in 1988, every product had to be categorized under opposing tariff systems of several nations. This tough global trade making it complicated to execute business in several nations. To simplify the classification procedure and speeding up economies, HS code is vastly adopted throughout the entire world.

The situation of Import Duty in India

The government of India has decreased import duties for approximately 200 items including meat, apparel, cosmetic products etc. The rates have been dropped with several levels ranging from 30% to 100% that is a great reduction indeed. It helps in increasing imports & improving the quality of the commodities.

What occurs if you use incorrect harmonized system codes?

Using incorrect HS Code India can delay the customs clearance, costing you much time and money. People will face risks to either pay too little or too many taxes. In addition to this, customs don’t be capable to know what kinds of products you plan to import; hence they don’t know what good testing you need to conform with.

If you accidentally use incorrect harmonized system codes you have to cooperate with your Chinese importer and if possible pursue assistance from a 3rd party to help you.

Wrong HS codes are harmful to the business as they don’t contribute to maximum gains in the business. If you don’t want to deal with this situation and want to get 100% genuine list of HS code, simply consult any data sharing firm as soon as possible. A few months back, I was also looking for HS codes for some products then one of my close friends suggested to me Export Import Data Solutions. One of the best firms to obtain authentic harmonized system codes for different countries.

Here are listed some steps to obtain HS Code India
Simply visit https://www.exportimportdata.in/hs-code
Once you visited the link, HS code of various nations will appear
Just click on the 2nd box named HS Code for India
The entire list of HS Code India will be there
Finally, explore the HS code by giving the particular item’s name
Consulting a firm is the only way to assemble accurate harmonized system codes of India for the products or services.

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