Explained | What are HSN codes and why are they changing? Come January 1, 2022, the set of codes used to monitor and regulate global trade by more than 200 nations, will be changing.

By using HSN codes, countries can harmonize their customs and trade procedures, making it easier for businesses to engage in international trade.

The government has made it mandatory to mention 8-digit HSN or tariff code for 49 chemical based products while issuing Goods and Services Tax (GST) invoice, a move experts feel is aimed at ...