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Features of HS Code
• HS codes are made as per defined rules that classify the codes.
• It acts as a worldwide uniform standard for classification of goods.
• Almost 5000 commodities of goods traded internationally are covered by HS codes.

According to WCO, the length of an HS code should be six digits. However, additional digits can be added as per further classification codes of a particular country. For instance, USA uses 10-digit HS code, where the first six digits are given by the WCO (World Customs Organization) and additional numbers are allotted by the US customs authority, called Harmonised Tariff Schedule (HTS) numbers2.

In India, an 8-digit HSN code is used, in which the first six digits are given by WCO and two other digits are additional. The HSN codes are further classified into 21 sections, 99 chapters and each chapter defines a specific product category – heading, subheading and tariff item.

HS codes are used for:
• Import and export tariff rates, specific to the product category
• Analysis and collection of international trade data
• Calculation of internal taxes and liabilities to be paid

•Aids in customs clearance
•No more catalog confusion
•Keeps a track of tariffs and taxes

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A freight forwarder is an agent responsible for the movement of goods on behalf of the cargo owner. This responsibility can start from the time the goods are picked up from the seller until they are delivered at the consignee's specified location

Remember when you opt for a major freight forwarder, you are choosing an agency that you can trust, and who can be a partner in your success. Therefore, selecting the right freight forwarder can help you optimize your supply chain, cost efficiency, delivery, and timeliness.

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It's time to Grow📈 your Export Import Business 🔝

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