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Why is Indian HS code list relevant for Indian importers and exporters? 

Indian HS code is devised by the Indian customs department and is adopted by India to facilitate its international trade and is devised on the pattern of international harmonized system codes. Indian HS code list contains all the HS codes of all the products that are traded buy India In the international market and is divided into 21 sections which are divided into 96 chapters and the chapters are further subdivided into the HS codes of specific products. The sections are dedicated to a particular species of goods which are of similar nature and the further subdivision is done to make is more product specific.

In India a eight digit system of HS codes if followed to suit the needs of Indian trade and to facilitate and further the foreign trade of India. It’s a system of product and tariff nomenclature of all the goods and commodities that are exported and imported by India in the global market and to maintain a standard rate of customs applicable on Indian imports and exports. Following a centralized system of classification of traded goods is necessary in order to avoid any kind of confusion and hassle and in order to overcome this the custom department of India has formulated the eight digit HS code list which has to be followed all over India as a standard system of product classification.

The knowledge of Indian HS code list is very vital for Indian importers and exporters as it is the source of getting all the data related to import and export of all the goods by and from India. It helps the importers and exporters identify their goods and also helps them to gather the information about the taxes and custom they that have to pay on the goods that are willing to import and export and all the other details which are crucial and incidental to imports and exports,