Harmonized code or HS Code a good inevitable aspect of this import export deal. 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 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 function. It is an eight digit code provides 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 rare ID assigned to a particular trading product, which is through more than 200 countries across entire world.
dgft IEC Registration Online India India in the governing authority that provides the changes or formulation or addition of new codes regarding existing harmonized code listing. The authority carries out periodical activities like commodity description, weeding the actual defunct codes, addition of the latest codes, change of product description etc. It maintains the harmonized code list, may a collection of such codes classified under 21 sectors. 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 split up into 98 chapters. The chapters are further split into sub-headings to which particular HS Codes many products are mentioned.
Every trader dealing in international market has post the particular code number of his product in all of the forms and also important paperwork that become filled up at time of import and export. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are performed in example of the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, might have been very troublesome for participants to search for a particular segment of items. The list presents the sum of the product coding with a lot of of categories, simplifying the task of importers and exporters. You is likely to access this code list over the web with the online data manufacturers like Infodrive Of india. Besides providing a detailed HS tariff list, the corporate has also provided an internal search box for searching the codes of particular goods by way of entering the product’s companies.