Harmonized code or HS Code a great inevitable aspect in the import export deal. It is a unique numerical code assigned to various products and commodities required while shipping from nation to another. It is used to describe particular goods your 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 Registration Online India India. The international coding system has been adopted in India for export import procedure. It is an eight digit code provides been developed at par with the international coding system to suit automobile of the international trading community of the country. The code is basically, a unique ID assigned to a particular trading product, which is through more than 200 countries across the world.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes previously existing harmonized code list of reasons. The authority performs periodical pursuits like commodity description, weeding the defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, along with that is a selection of such codes classified under 21 business units. 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. 1 of these 21 sections is further put into 98 sections. The chapters are further put into sub-headings under which particular HS Codes many products are mentioned.
Every trader dealing in international market has to mention the particular code involving his product in all the forms as well important paperwork that to be able to filled up at period of export import. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are finished in example of the code mentioned in the papers. Hence one can tell that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, might have been very troublesome for participants to track down a particular segment of items. The list presents the whole of the product coding with variety of of categories, simplifying the duty of importers and exporters. You in many cases can access this code list over the web with the internet data the likes of Infodrive India. Besides providing an end HS tariff list, organization has also provided an internal search box for searching the codes of particular goods because of entering the product’s such as :.