Customs

You would have seen this terminology called HS Code across many trade documentation or correspondences..

What does this HS Code mean, who uses it and what is it used for..??

HS Code stands for Harmonized Commodity Description and Coding System..

This is the common standard worldwide for describing the type of commodity..

Every commodity that enters or crosses most international borders have to be declared to customs by means of a HS code.. This helps in standardizing the commodity codes worldwide..

Efficient customs clearance and controls are essential for the smooth flow of global trade. One of the ways in which countries are achieving this is through the creation of single-window systems/environments. As per the WCO, the factual...