What is the full form of HSN?
- on Jul 02, 2022
HSN stands for Harmonized System Nomenclature.
|Full Form||Harmonized System Nomenclature|
|Category||Business » Business Terms|
What is HSN?
Harmonized System Nomenclature(HSN) is an internationally standardized system of names and numbers for classifying traded products. It is used by customs authorities around the world to identify products when they are imported or exported.
The HSN code is a 6-digit code that is used to classify products. The first 2 digits of the code are used to identify the product’s heading, the next 2 digits are used to identify the product’s subheading, and the last 2 digits are used to identify the product’s commodity.
For example, the HSN code for a television would be 85.28. The first 2 digits (85) identify the product’s heading (electrical machinery and equipment), the next 2 digits (28) identify the product’s subheading (televisions), and the last 2 digits (00) identify the product’s commodity (televisions).
The HSN code is used by customs authorities to determine tariffs and other measures that may be applied to imported or exported goods. It is also used by businesses to keep track of their international trade activities.