Global item number
The Harmonized System classification is a six-digit standard, called a subheading, for classifying globally traded products. HS codes, also called HS numbers, are used by customs authorities around the world to identify the duty and tax rates for specific types of products.
HS codes are administered by the World Customs Organization. HS codes are recognized in 98% of world trade.
There are six digits in an HS code, but many countries add an additional 2 or 4 digits to the HS number to further distinguish products in certain categories. These additional digits are typically different in every country.
HS codes are used for most international export documentation and commercial invoices unless your product falls into one of these categories.
India specifics
India has a more detailed classification than the 6-digit standard international structure, as 2 digits have been added.
How Infor meets the requirement
Added the Use HSN / SAC Code and Require HSN / SAC Code fields.
- Select the Use HSN / SAC Code check box on the Business Group.
- Select the Require HSN / SAC Code check box on the Global Ledger company.
- For inventory and nonstock items, HSN / SAC Code is assigned to the item master. If there is a value in Item, Item is the default value, otherwise select the code manually while performing the transaction.
- For special and service items, select the HSN/SAC Code manually while performing the transactions.