HSN Code

HSN Code

Dated : 10 Sep, 2018

Posted In : GST News



Description

What is a HSN Code?

Harmonised System of Nomenclature [HSN] is a six digit uniform code that classifies 5000 + products worldwide. It was thought of and developed by the World Customs Organization [WCO] with a vision of standardizing the classification of all the goods prevailing worldwide, in a logical and systematical manner. HSN plays a crucial role in the taxation of a country and helps to get the accurate rate of tax applicable on any product in a country. HSN is also referred to analyze a specific product movement across the world and assists in determining the volume of any product exported or imported.

 


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