Harmonized code or HS Code can be an inevitable aspect in the import export deal. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. Around the globe 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 from 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 procedure. It is an eight digit code which been developed at par with the international coding system to suit vehicle of the international trading community on the country. The code is basically, a good ID assigned a new particular trading product, which is by simply more than 200 countries across entire world.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes previously existing harmonized code listing. 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 pieces. 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 broken into 98 chapters. The chapters are further split up into sub-headings to which particular HS Codes for several products are mentioned.
Every trader dealing in international market has post the particular code connected with his product in all of the forms because 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 executed in experience with the code mentioned ultimately papers. Hence one can tell that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, always be have been very troublesome for participants to track down a particular segment of items. The list presents the full product coding with a lot of of categories, simplifying the procedure of importers and exporters. You is likely to access this code list over the web with the internet data brands like Infodrive The indian subcontinent. Besides providing an end HS tariff list, the company has also provided an internal search box for searching the codes of particular goods via entering the product’s companies.