HS code, the unique code for import and export helps to smoother the path of your business. It would help you to manage a higher profit margin. The Full form of HS code is Harmonized System code. This code is very important to classify & categorize the commodities or goods exported from the country or the goods imported to the country. This actually helps to track activities in the business of import and export. This code is required to know the international tariff of a commodity. Every country has its own HS code to classify each commodity, which have to be imported or exported. To be guided properly by HS code is very important to develop the business of import & export. This code has been invented in the conference of World Customs Organization (WCO) taken place in Brussels, Belgium. After that since the year 1988 the code is being used. The HS code contains 6 digits, first two digits stand for the HS chapter, and second two digits stand for the HS heading & the last two digits stand for the subheads of HS. It is also known as HTS that means Harmonized Tariff System code. This system is in use also all over the world. Also 200 countries are implemented under this rule. Advantage Of Knowing HS Code: There are many organizations that provide the proper information about HS code. The advantages of knowing HS code are- Having knowledge about HS code makes the traders about the international rules, law & orders, which actually help them to import their products without any menace. If you become well aware about the rules about HS code you can concentrate more on the quality of commodity & the process of import or export than the rules & formalities because everybody knows any international affair is very sensitive matter. Therefore, it’s better to take the help of the organizations who keep right content & information about the matter of HS code.
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June 2016
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Seair Exim Solution - A Platform to Provide Import Export Data in India