HSN

The Harmonized System of Nomenclature (HSN) is an internationally standardized system of names and numbers for classifying goods. Developed by the World Customs Organization (WCO), the HSN code is used by more than 200 countries as a basis for their customs tariffs and for the collection of international trade statistics. In India, HSN codes are used under the Goods and Services Tax (GST) regime to classify products and services for taxation purposes. Each HSN code comprises a series of numbers that categorically describe a specific product, facilitating uniformity and consistency in tax documentation, compliance, and reporting. This standardized classification system helps streamline international and domestic trade, reduces ambiguity, and ensures accurate tax administration.