Harmonized code or HS Code a great inevitable aspect for the import export deal. It is a unique numerical code allotted to various products and commodities required while shipping from nation to another. It is 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 India. The international coding system has been adopted in India for export import action. It is an eight digit code that has 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 any particular trading product, which is simply by more than 200 countries across the planet.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes in the existing harmonized code list of reasons. The authority carries out periodical pursuits like commodity description, weeding the particular defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, and also a number 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. 1 of these 21 sections is further broken into 98 chapters. The chapters are further separated into sub-headings this agreement particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to mention the particular code regarding his product in all the forms and other important paperwork that to be able to filled up at the time of export Import Export Code Online Registration India. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are executed in example of the code mentioned in the papers. Hence one can say 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 the traders to watch for a particular segment of items. The list presents the entire product coding with a lot of of categories, simplifying the duty of importers and exporters. You can easily access this code list over the online world with the online data companies like Infodrive Indian. Besides providing an end HS tariff list, organization has also provided an interior search box for searching the codes of particular goods simply by entering the product’s such as :.