Important export/ import information on H S Code
Important export/ import information on Harmonized system code or Harmonized Tariff Schedule code:-
What is HS code & how does HS code work in Export and Import?
In this article we want to explain about Harmonized System Code,( Harmonized Tariff code),how does HS code function, how many digits are there in HS code and how does HS codes function in different countries.
HS code means Harmonized System Code. It is also known as HTS which means Harmonized Tariff Schedule code. HS code description and coding System was created by the World Custom Organization (WCO) to categorize goods into approximately 5,000 commodity groups, which is accepted and implementing by more than 200 countries worldwide.
The World Customs Organization (WCO) has been administering 6 digits HS codes schedule. The HS codes have been being used by 98% of Import Export trade all over world. First Two digits called ‘Chapters’, First four digits is called ‘heading’ and six digits ‘sub heading’.
However each country can modify by adding two digits or four digits as per their requirement without changing first six digits. In other words, first six digits of HS code (HTS code) are same in all countries. But countries can add additional digits to categorize and define commodities at more detailed level without modifying or changing first six digits.