Harmonized code or HS Code is an inevitable aspect of this import export make trades. It is a unique numerical code used on various products and commodities required while shipping from one country to another. Is used to describe particular goods regarding import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained from your 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 function. It is an eight digit code provides 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 special ID assigned the particular trading product, which is by simply more than 200 countries across earth.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes the actual existing harmonized code list. The authority does periodical pursuits like commodity description, weeding the particular defunct codes, addition of recent codes, change of product description etc. It maintains the harmonized code list, and also 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. All of these 21 sections is further divided into 98 chapters. The chapters are further put into sub-headings this agreement particular HS Codes for several products are mentioned.
Every trader dealing in international market has to mention the particular code involving his product in all the forms and also important paperwork that must be filled up at the time of import and export. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are finished in hitting the ground 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, might have been very troublesome for the traders to watch for a particular segment of items. The list presents the sum of the product coding with amount of categories, simplifying the procedure of importers and exporters. You in many cases can access this code list over the web with the online data brands like Infodrive India. Besides providing additional HS tariff list, the company has also provided an inside search box for searching the codes of particular goods it really is quite entering the product’s bands.