Harmonized code or HS Code is an inevitable aspect of this import export deal. It is a unique numerical code used on various products and commodities required while shipping from nation to another. In order to 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 the Director General of Foreign Trade or dgft IEC Registration Online India India. The international coding system has been adopted in India for export import procedure. 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 rare ID assigned to a particular trading product, which is through more than 200 countries across entire world.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes previously existing harmonized code place. The authority does periodical activities like commodity description, weeding the particular defunct codes, addition of new codes, change of product description etc. It maintains the harmonized code list, which is a number 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. 1 of these 21 sections is further broken into 98 chapters. The chapters are further split up into sub-headings under which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to say the particular code connected with his product in all the forms and other important paperwork that to be able to filled up at time of export import. All the related activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are executed 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, end up being have been very troublesome for participants to track down a particular segment of merchandise. The list presents the whole of the product coding with variety of categories, simplifying your responsibilities of importers and exporters. You could access this code list over the internet with the online data businesses like Infodrive Indian. Besides providing an end HS tariff list, the corporate has also provided an inside search box for searching the codes of particular goods via entering the product’s makers.