What is HS code India?
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.
Where can I find HS code?
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 many HS Codes are there in India?
The Indian HS Classification structure has 21 sections, with 99 Chapters, about 1,244 headings, & 5,224 subheadings. Each Section is divided into Chapters. Each Chapter is divided into Headings. Each Heading is divided into various Sub Headings.
What is HS code for import in India?
Similarly, in India, goods for export and import have an eight-digit code called an ITC (HS) code, where ITC stands for Indian Trade Classification and/or Indian Tariff Code. This system has two schedules – Schedule I for imports and Schedule II for exports. Schedule I has 21 sections and 98 chapters.
How do I find my HSN code in India?
To find an HSN code for a product, first, select the Chapter, then select Section and filter the subheading to finally get the product code. For example, HSN code for Chana Roasted is 19.04. 10.90 where 19 is the Chapter, 04 is the Section, 10 is the subheading and 90 is the product.
What is HS code in import?
To define in pure form, H.S. Code is 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 a 10 digit HS code?
HTS code. A 10-digit code that categorizes each imported good. The first six digits are an HS code. The subsequent two digits identify the US subheading of the HS code to determine the duty rate, while the final two digits are a statistical suffix.
How do I find my 6-digit HSN code?
Example: Where HSN 6 digits are specified to be reported in invoice, valid HSN codes as available in tariff, at both 6-digits and 8-digits can be mentioned….Clarification on reporting 4-digit/6-digit HSNs.
S. No. | Aggregate Turnover in the preceding Financial Year | Number of Digits of HSN Code |
---|---|---|
2. | More than INR 5 crores | 6 |
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.