Harmonized code or HS Code can be an inevitable aspect for the import export dealings. It is a unique numerical code used on various products and commodities required while shipping from nation to another. It is used to describe particular goods your past 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 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 from the country. The code is basically, a unique ID assigned using a particular trading product, which is simply by more than 200 countries across the planet.
dgft IEC Registration Online India India in the governing authority that attends to the changes or formulation or addition of new codes regarding existing harmonized code guidelines. The authority does periodical activities like commodity description, weeding the actual defunct codes, addition of the latest 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. Every these 21 sections is further split up into 98 chapters. The chapters are further put into sub-headings under which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to bring up the particular code regarding his product in all of the forms as well important paperwork that end up being filled up at time of export import. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are carried out in experience of 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, might have been very troublesome for participants to track down a particular segment of products. The list presents the entire product coding with a number of categories, simplifying a job of importers and exporters. You is likely to access this code list over the online world with the internet data companies like Infodrive India. Besides providing a complete HS tariff list, the corporation has also provided an internal search box for searching the codes of particular goods simply by entering the product’s companies.