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Understanding HSN Code for Import-Export Business | How to Find HSN Code for Any Product.
Are you involved in import-export business and struggling to understand what HSN code is and how to find it for your products? Look no further, in this video I'll be explaining everything you need to know about HSN codes and how to find them.
Firstly, HSN stands for Harmonized System of Nomenclature, which is a standardized system of names and numbers used to classify goods in international trade. HSN codes are six-digit codes assigned to each product based on their nature, composition, and usage. These codes are used to streamline the trade process and ensure accurate classification and taxation of goods.
In the video, I'll be discussing the importance of HSN codes in import-export business, how they help in determining the rate of duty, taxes, and other charges applicable to the product, and how they simplify the documentation process. Moreover, HSN codes are also useful in identifying potential buyers and markets for a particular product.
Now comes the most crucial part, how to find the HSN code for your products. I'll be showing you step-by-step how to find the HSN code using the online HSN directory, and also discuss some other methods to find the code if you don't have access to the internet.
By the end of this video, you'll have a clear understanding of what HSN codes are, why they are essential in the import-export business, and how to find the code for any product. So, sit back, relax, and let's dive into the world of HSN codes.
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Your Queries:
What is the HSN code?
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Is it mandatory to mention HSN code on invoices?
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