WHAT IS HS CODE

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WHAT IS HS CODE

      HS CODE stand for Harmonised System Codes. It is commonly used in case of trade like export process of goods. The Harmonised system is a standardized numerical method of classifying traded products. This system is used by custom authorities around the world to identity products when assessing duties and taxes and for collecting statistics also.
    The HS Code is administrated by the World Custom Organisation. These codes are updated by every five years. It serves as the foundation for the import and export classification used in United States and by many trading partner countries.
   The HS Code consist of six digit codes for varying classification and commodities. The system was first implemented in 1988 and currently maintained by the World Custom Organisation. This system is used to ease global trade by creating unified categories to classify different types of foods. 
 

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FULL FORM OF NSCCL

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