Harmonized code or HS Code is an inevitable aspect within the import export deal. It is a unique numerical code sent to various products and commodities required while shipping from nation to another. Around the globe 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 your Director General of Foreign Trade or dgft IE Code Registration Online India India. The international coding system has been adopted in India for export import techniques. It is an eight digit code which been developed at par with the international coding system to suit vehicle of the international trading community from the country. The code is basically, a special ID assigned a new particular trading product, which is through more than 200 countries across society.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes previously existing harmonized code listing. The authority performs periodical pursuits like commodity description, weeding out of defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, may a range 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. 1 of these 21 sections is further put into 98 sections. The chapters are further separated into sub-headings this agreement particular HS Codes many products are mentioned.
Every trader dealing in international market has to note the particular code regarding his product in all of the forms as well important paperwork that needs to filled up at the time of import export. All the attached activities like customs duty or excise duty or drawback rates or even exemption of commodities, are performed in example of the code mentioned inside the papers. Hence one can tell that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, always be have been very troublesome for participants to search for a particular segment of merchandise. The list presents the whole of the product coding with variety of categories, simplifying your responsibilities of importers and exporters. You in many cases can access this code list over the internet with the internet data brands like Infodrive The indian subcontinent. Besides providing a complete HS tariff list, the corporate has also provided an interior search box for searching the codes of particular goods by way of entering the product’s makers.