Harmonized code or HS Code is an inevitable aspect in the import export dealings. It is a unique numerical code assigned 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 your Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import operations. It is an eight digit code which includes 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 special ID assigned using a particular trading product, which is utilized by more than 200 countries across the planet.
DGFT India in the governing authority that looks after the changes or formulation or addition of new codes in the existing harmonized code list. The authority carries out periodical activities like commodity description, weeding the actual defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, which is a collection 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. Every these 21 sections is further put into 98 chapters. The chapters are further divided into sub-headings to which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to note the particular code connected with his product in all the forms and also important paperwork that must be filled up at time of Import Export Code Online Registration India and export. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are performed in experience with the code mentioned ultimately papers. Hence one know that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, it have been very troublesome for participants to watch for a particular segment of merchandise. The list presents the sum of the 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 net with the internet data manufacturers like Infodrive Of india. Besides providing a detailed HS tariff list, the corporate has also provided an internal search box for searching the codes of particular goods because of entering the product’s bands.