Harmonized code or HS Code can be an inevitable aspect within the import export make trades. It is a unique numerical code assigned to various products and commodities required while shipping from nation to another. Around the globe used to describe particular goods your import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained your 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 procedure. It is an eight digit code which has been developed at par with the international coding system to suit vehicle of the international trading community of the country. The code is basically, a rare ID assigned the particular trading product, which is utilized 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 place. The authority does periodical activities like commodity description, weeding the actual defunct codes, addition of brand new codes, change of description of product etc. It maintains the harmonized code list, which is a bunch 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. Both these 21 sections is further divided into 98 sections. The chapters are further divided into sub-headings to which particular HS Codes for several products are mentioned.
Every trader dealing in international market has post the particular code number of his product in all of the forms and other important paperwork that needs to filled up at time of import export. All the related activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are finished in experience with the code mentioned ultimately papers. Hence one know that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, might have been very troublesome for the traders to track down a particular segment of items. The list presents the whole of the 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 manufacturers like Infodrive The indian subcontinent. Besides providing a comprehensive HS tariff list, the corporation has also provided an inside search box for searching the codes of particular goods it really is quite entering the product’s bands.