HS Code in India. What? Why? Where? Links?
Finsys ERP has been configured to print the HS code you decide, and you make. You are currently free to use all combinations — 4 digits, 6 digits and 8 digit HS codes. You will get what you enter in the ERP.
What does HS code mean ?
With GST regime, the Indian Government is moving toward the International HS Code.
The HS means : 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. It came into effect in 1988 and has since been developed and maintained by the World Customs Organization (WCO) (formerly the Customs Co-operation Council), an independent intergovernmental organization based in Brussels, Belgium, with over 200 member countries
Fundamentally, the HS is organized economic activity or component material. For example : Steel is Chapter 72.00.00.00 , for all the possible varieties of Steel. Chapter 73 is tariff for iron and steel articles, 999999 tariffs are mathematically possible under each chapter.
Example : Helmets of a particular variety will have same HS code whether in USA, or Japan, or India or Europe.
You want Link to HS Codes ?
1. Indian Link ( Private website * )
2. US Link
3. European Union
4. Japan Link
5. Indian GST.Gov.in Link
https://www.gst.gov.in/ ( not yet hosted on 2-7-2017) at 14:38 pm
* The Indian Official site on GST.GOV.in has not yet hosted the full Tarriff List.
** Probably this delay is intentional, since the official list is going to contain all 8 digits, and currently the Government has assured the small traders that they can forget the 8 digits for time being.
Example HS Codes list
Chapter 72 : 27 pages with over 500 tarriffs for Plastics alone Click Here
Chapter 47 : Over 500 tarriffs for Paper and Paperboard Boxes alone Click Here
Chapter 74 : Copper Click Here ( PDF File attached )
In GST regime, get ready to adopt the 8 Digits very soon.
The 2 or 4 digit regime is only temporary
Click here for details
Got a Query ?
Note : Finsys ERP has been configured to print the HS code you decide, and you make. You are currently free to use all combinations — 4 digits, 6 digits and 8 digit HS codes.
You will get what you enter in the ERP.