Harmonized code or HS Code is an inevitable aspect of the import export make trades. It is a unique numerical code used on various products and commodities required while shipping from one country to another. Its used to describe particular goods regarding import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained your Director General of Foreign Trade or dgft IE Code Registration Online India India. The international coding system has been adopted in India for export import techniques. It is an eight digit code which includes been developed at par with the international coding system to suit vehicle of the international trading community on the country. The code is basically, a unique ID assigned a new particular trading product, which is simply by more than 200 countries across the planet.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes the actual existing harmonized code place. The authority performs periodical activities like commodity description, weeding beyond defunct codes, addition of the latest codes, change of product description etc. It maintains the harmonized code list, which is a range of such codes classified under 21 sections. The 21 sections include Animals & Animal Products; Vegetable Products; Animal or Vegetable Fats; Prepared Foodstuffs; Mineral Products; Chemical Products; Plastics & Rubber; Hides & Skins; Wood & Wood Products; Wood Pulp Products; Textiles & Textile Articles; Footwear, Headgear; Articles Of Stone, Plaster, Cement, Asbestos; Pearls, Precious Or Semi-Precious Stones, Metals; Base Metals & Articles Thereof; Machinery & Mechanical Appliances; Transportation Equipment; Instruments – Measuring, Musical; Arms & Ammunition; Miscellaneous; and Works Of Art. 1 of these 21 sections is further split up into 98 chapters. The chapters are further separated into sub-headings under which particular HS Codes for several products are mentioned.
Every trader dealing in international market has to bring up the particular code connected with his product in all of the forms and other important paperwork that end up being filled up at the time of export import. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are executed in reference to the code mentioned inside the papers. Hence one know that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, might have been very troublesome for the traders to track down a particular segment of merchandise. The list presents the entire product coding with a lot of of categories, simplifying the procedure of importers and exporters. You could access this code list over the online world with the internet data manufacturers like Infodrive India. Besides providing additional HS tariff list, organization has also provided an enclosed search box for searching the codes of particular goods because of entering the product’s such as :.