Harmonized code or HS Code can be an inevitable aspect of the import export deal. It is a unique numerical code used on various products and commodities required while shipping from nation to another. It is used to describe particular goods in 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 of the country. The code is basically, a unique ID assigned the particular trading product, which is through more than 200 countries across earth.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes in existing harmonized code list. The authority carries out periodical pursuits like commodity description, weeding beyond defunct codes, addition of recent codes, change of description of product etc. It maintains the harmonized code list, along with that is a range 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. Every these 21 sections is further divided into 98 chapters. The chapters are further split up into sub-headings to which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has post the particular code involving his product in all the forms and other important paperwork that become 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 carried out in experience of the code mentioned inside the papers. Hence one know that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, it have been very troublesome for the traders to search for a particular segment of items. The list presents the full product coding with variety of of categories, simplifying the task of importers and exporters. You in many cases can access this code list over the web with the internet data manufacturers like Infodrive Sweden. Besides providing a comprehensive HS tariff list, organization has also provided an indoor search box for searching the codes of particular goods via entering the product’s names.