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HS Code signification for export import business

An HS code is Harmonized System (HS) code referred to the numerical code such as 6 digits or 8 digits, which can be utilized to describe a product which is being shipped from one part of the country to another.

It is essentially a unique id hand over to a particular commodity or manufactured goods, which is used by more than 200 countries and more than 98% of the total business of the world. HS Code List is a collection of different codes categorized under different sections which include animal products, vegetable products, vehicles, mineral products, aircraft and ammunition among others. Every business connected company has to allocate the code number to its products, which shows with any other ordinary information related to the product.

The HS Code list is a set of headings and subheadings, which could be simply accessed to find any necessary code. It simplifies the data of importers as well as exporters by making available the complete data on numerous categories.

  1. ITC (HS) is a collection of codes for all products for export/ import.
  2. The import/export policies for all products are indicated against each item in ITC (HS).
  3. Mandatory documents for export/import of goods from/into India –

                     a. Bill of Lading/Airway Bill

                     b. Commercial Invoice cum Packing List*

                      c. Shipping Bill/Bill of Export

       4.  Mandatory documents required for import of goods into India

                   a. Bill of Lading/Airway Bill

                   b. Commercial Invoice cum Packing List*

                    c. Bill of Entry