Harmonized code or HS Code is an inevitable aspect within the import export commerce. It is a unique numerical code assigned to various products and commodities required while shipping from nation to another. Is 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 procedure. It is an eight digit code which been developed at par with the international coding system to suit the requirements of the international trading community belonging to the country. The code is basically, a rare ID assigned any particular trading product, which is simply by more than 200 countries across society.
dgft IE Code Registration Online India India in the governing authority that looks after the changes or formulation or addition of new codes in the existing harmonized code listing. The authority does periodical activities like commodity description, weeding the particular defunct codes, addition of new 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 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. Each of these 21 sections is further divided into 98 chapters. The chapters are further split up into sub-headings this agreement particular HS Codes for different products are mentioned.
Every trader dealing in international market has to say the particular code associated with his product in all of the forms along with important paperwork that end up being filled up at the time of import export. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are executed in reference to the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, end up being have been very troublesome for the traders to investigation for a particular segment of merchandise. The list presents the full product coding with a lot of of categories, simplifying your responsibilities of importers and exporters. You in many cases can access this code list over the online world with the online data companies like Infodrive Of india. Besides providing an end HS tariff list, the corporation has also provided an enclosed search box for searching the codes of particular goods because of entering the product’s companies.