Harmonized code or HS Code a great inevitable aspect in the import export make trades. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. It is 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 from the Director General of Foreign Trade or dgft IE Code Online Registration in India 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 automobile of the international trading community from the country. The code is basically, a good ID assigned a new particular trading product, which is simply by more than 200 countries across the planet.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes the actual existing harmonized code listing. The authority does periodical pursuits like commodity description, weeding the actual defunct codes, addition of brand new codes, change of product description etc. It maintains the harmonized code list, along with that is a number of such codes classified under 21 parts. 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. Both these 21 sections is further divided into 98 sections. The chapters are further split up into sub-headings to which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to mention the particular code associated with his product in all the forms and other important paperwork that become filled up at the time of export import. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are executed in experience of the code mentioned in the papers. Hence one can say that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, it would have been very troublesome for participants to search for a particular segment of items. The list presents the full product coding with a lot of of categories, simplifying your responsibilities of importers and exporters. You can potentially access this code list over the web with the internet data brands like Infodrive Of india. Besides providing a complete HS tariff list, vehicle has also provided an inside search box for searching the codes of particular goods by way of entering the product’s makers.