Harmonized code or HS Code can be an inevitable aspect of this import export commerce. It is a unique numerical code allotted 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 by the 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 action. 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 of the country. The code is basically, a special ID assigned using a particular trading product, which is utilized by more than 200 countries across entire world.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes the actual existing harmonized code guidelines. The authority performs periodical activities like commodity description, weeding the particular defunct codes, addition of brand new codes, change of product description etc. It maintains the harmonized code list, which is a bunch 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. Every these 21 sections is further divided into 98 chapters. The chapters are further split up into sub-headings this agreement particular HS Codes for different products are mentioned.
Every trader dealing in international market has to mention the particular code connected with his product in all of the forms along with important paperwork that become filled up at the time of import and export. All the related activities like customs duty or excise duty or drawback rates or even exemption of commodities, are carried out in experience with the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, it would have been very troublesome for the traders to search for a particular segment of merchandise. The list presents the product coding with variety of categories, simplifying the duty of importers and exporters. You in many cases can access this code list over the web with the online data manufacturers like Infodrive Indian. Besides providing an end HS tariff list, the company has also provided an indoor search box for searching the codes of particular goods by way of entering the product’s bands.