The HSN code full form is the Harmonised System of Nomenclature code . It plays a crucial role in international trade and taxation. Developed by the World Customs Organisation (WCO), this standardised system is used to classify goods and streamline trade practices globally. HSN stands Harmonized System of Nomenclature . It is a multipurpose international product nomenclature. Each item that is traded globally is assigned a code. More than 200 countries and economies use the HSN code, which is a widely acknowledged system for categorising products worldwide. HSN codes stand for Harmonized System of Nomenclature , which is a goods classification scheme used in foreign trade. This standardized bid was drawn up by the World Customs Organization (WCO) to have a uniform nomenclature for goods traded internationally. Under the GST regime, the Harmonized System of Nomenclature ( HSN ) code serves as a unique identifier for over 5,000 commodity groups, efficiently categorizing goods in a systematic manner. For example, the HSN code for cast iron pipes is 7303.0010. This code can be broken down as follows:
