Harmonized code or HS Code a good inevitable aspect within the import export dealings. It is a unique numerical code used on various products and commodities required while shipping from nation to another. Its used to describe particular goods your past import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained through Director General of Foreign Trade or dgft IEC Registration Online India India. The international coding system has been adopted in India for export import function. It is an eight digit code which includes 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 rare ID assigned using a particular trading product, which is simply by more than 200 countries across the world.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes in existing harmonized code list. The authority carries out periodical activities like commodity description, weeding the defunct codes, addition of the latest codes, change of product description etc. It maintains the harmonized code list, which is 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 put into sub-headings this agreement particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to say the particular code connected with his product in all the forms and also important paperwork that to be able to filled up at period of import and export. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are executed in experience with the code mentioned in the papers. Hence one can tell that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, end up being have been very troublesome for participants to track down a particular segment of items. The list presents the full product coding with a lot of of categories, simplifying the duty of importers and exporters. You can potentially access this code list over the web with the online data companies like Infodrive The indian subcontinent. Besides providing additional HS tariff list, the company has also provided an internal search box for searching the codes of particular goods because of entering the product’s such as :.