What is HS Code in Import Export Business?

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Import Export is one of the huge business segments, and it is a trade link connecting the different countries of the world through the import and export of different products. In the EXIM industry, HS code stands for the harmonized system, i.e., identification of a different group of products, and their categories through a given code. Different countries follow the same HS code grouping for the identification of various products. Nevertheless, it is the name given to each product for an easy trade process. The H.S. Code Export Import makes it simple for the different businessmen from across the globe to perform their trade.

HS Code in Import Export Business

200 countries & more

Indeed, 200 countries in the world are currently following the HS code system for their import export business. It means it is one of the most systematic methods for executing the international trade business. The HS code is a 6 digit unique product code given for a particular item that can be imported or exported after following the necessary procedure.

“When you are dealing with any buyer from the world for the export of a particular product, you are communicating for a given HS code identification, this eliminates guesswork and helps the business owners to gain confidence and clarity. An H.S Code Export Import identification is a valuable process for a successful trade.”

HS Code & World Trade Organization

The HS Code is a 6 digit unique identification code, but there are many products that have sub-categories for which the world trade organization has allowed the HS code to be identified as 8 digit code. This makes the entire product identification system organized. To be precise, the H.S. Code Export Import business has 21 sections with 97 sub-chapters that have roman digit identification for easy international trade. Each product is categorized with the closeness of its nature; hence, items that are close to nature are initially coded whereas types of machinery are coded afterward.

“HS Code has Chapters, headings and sub-headings as per the product’s nature and categories.”

Product Interpretation with HS Code

For successful trade, a business owner needs to have the perfect product interpretation. In fact, experienced traders use product interpretation for earning more profits. Know More Details Read Blog here: https://bit.ly/2wv0aWV

Have you downloaded the HS Code Manual?

By talking to an EXIM expert, you can get your HS Code customs manual for interpreting the right product with the correct HS Code. To earn more profits, always define proper HS code under its appropriate titles. Also, you can contact us on 9211066888 and talk to our representative for identifying your export/import product with the correct HS Code.

The H.S Code Export Import business owners can also download the GRI handbook on foreign trade policy for an easy guide to Import Export business. Click here to download your GRI handbook copy, https://bit.ly/2HMzZSt.

For more information on HS Code and product interpretation, you can always email or call us on +91 9211066888 We are just a call away to make your import export trade successful.

Vaibhav Sharma

After always dreaming of taking the Indian EXIM entrepreneur's spirit to the road of success and growth, training and learning skills with Impexperts (A part of GFE Group)!