Harmonized code or HS Code can be an inevitable aspect for the import export commerce. 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 within the 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 Registration Online India India. The international coding system has been adopted in India for export import operations. 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 of the country. The code is basically, a good ID assigned any particular trading product, which is utilized 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 regarding existing harmonized code list. The authority does periodical activities like commodity description, weeding the defunct codes, addition of new codes, change of description of product etc. It maintains the harmonized code list, which is a bunch of such codes classified under 21 parts. 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 put into 98 chapters. The chapters are further split into sub-headings under which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to say the particular code involving his product in all of the forms because important paperwork that to be able to filled up at time of import export. All the related activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are finished in experience of the code mentioned inside of the papers. Hence one can tell that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, end up being have been very troublesome for the traders to watch for a particular segment of items. The list presents the whole of the product coding with a lot of of categories, simplifying a job of importers and exporters. You could access this code list over the world wide web with the internet data companies like Infodrive India. Besides providing a comprehensive HS tariff list, vehicle has also provided an inside search box for searching the codes of particular goods by way of entering the product’s such as :.