HSN stands for Harmonized System of Nomenclature. HSN was developed by the World Customs Organization (WCO) to classify the goods across the world in a systematic manner for the purpose of taxation in identifying each product. HSN classification covers more than 5,000 products, and it came into force in 1988. HSN is widespread and is adopted by more than 200 countries for uniform classification, the base for customs tariff and for collecting international trade statistics.
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