Harmonized code or HS Code a great inevitable aspect within the import export trade. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. In order to used to describe particular goods your import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained through Director General of Foreign Trade or dgft IE Code Online Registration in India India. The international coding system has been adopted in India for export import procedure. It is an eight digit code which has been developed at par with the international coding system to suit the requirements of the international trading community belonging to the country. The code is basically, a good ID assigned a new particular trading product, which is utilized by more than 200 countries across entire world.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes in existing harmonized code place. The authority performs periodical pursuits like commodity description, weeding beyond defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, along with that is a number of such codes classified under 21 sectors. 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. Both these 21 sections is further split up into 98 sections. The chapters are further divided into sub-headings to which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to bring up the particular code associated with his product in all the forms and other important paperwork that must be filled up at the time of export import. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are performed in example of the code mentioned ultimately papers. Hence one can tell that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, might have been very troublesome for the traders to investigation for a particular segment of items. The list presents the full product coding with variety of of categories, simplifying the duty of importers and exporters. You is likely to access this code list over the internet with the internet data businesses like Infodrive Of india. Besides providing a comprehensive HS tariff list, organization has also provided an inside search box for searching the codes of particular goods via entering the product’s makers.