Harmonized code or HS Code a great inevitable aspect of this import export commerce. It is a unique numerical code allotted to various products and commodities required while shipping from nation 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 India. The international coding system has been adopted in India for export import techniques. It is an eight digit code which has 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 fashionable ID assigned the particular trading product, which is utilized by more than 200 countries across earth.
dgft IEC Registration Online India India in the governing authority that looks after the changes or formulation or addition of new codes in the existing harmonized code place. The authority carries out periodical activities like commodity description, weeding the particular 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 separated into 98 sections. The chapters are further put into sub-headings to which particular HS Codes for several products are mentioned.
Every trader dealing in international market has to mention the particular code associated with his product in all the forms and also important paperwork that must be filled up at period of import and export. All the related activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are performed in hitting the ground with the code mentioned inside of the papers. Hence one know that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, end up being have been very troublesome for participants to track down a particular segment of merchandise. The list presents the entire product coding with variety of of categories, simplifying the duty of importers and exporters. You in many cases can access this code list over the world wide web with the internet data businesses like Infodrive India. Besides providing a complete HS tariff list, the corporate has also provided an enclosed search box for searching the codes of particular goods because of entering the product’s names.