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Definition | : | Harmonized System Nomenclature |
Category | : | Business » Business Terms |
Country/ Region |
: | Worldwide
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Initialism
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Harmonized Commodity Description and Coding System, also known as the Harmonized System Nomenclature (HSN) or Harmonized System (HS), is an internationally adopted commodity description and coding system developed for the classification of goods for taxation purpose. It was developed by the World Customs Organization (WCO), an intergovernmental organization established to improve the efficiency and effectiveness of customs administrations worldwide. The HS code consists of 6-digits. In the 6-digit HS code, the first two digits give the chapter number, the next two digits give the heading number, and the last two digits give the sub-heading number.
Note:
In some countries, the HSN code beyond 6 digits is also allowed. For example, India uses an 8-digit HSN Code. The additional digits added to the 6-digits HSN code are used to subclassify the HSN code on a more detailed level.
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The full form of HSN is Harmonized System Nomenclature
Harmonized System Nomenclature | Home Shopping Network | Hair, Skin and Nails
Harmonized System Nomenclature | Home Shopping Network | Hereditary Sensory Neuropathy | Hair, Skin and Nails | Hispanically Speaking News