Harmonized code or HS Code can be an inevitable aspect in the import export trade. It is a unique numerical code allotted to various products and commodities required while shipping from nation to another. 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 India. The international coding system has been adopted in India for export import action. It is an eight digit code which been developed at par with the international coding system to suit automobile of the international trading community belonging to the country. The code is basically, a rare ID assigned a new particular trading product, which is by simply more than 200 countries across the world.
dgft IE Code Registration Online India India in the governing authority that takes care of the changes or formulation or addition of new codes in the existing harmonized code listing. The authority performs periodical pursuits like commodity description, weeding the actual defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, and also 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. Each of these 21 sections is further divided into 98 sections. The chapters are further split up into sub-headings to which particular HS Codes many products are mentioned.
Every trader dealing in international market has to bring up the particular code associated with his product in all the forms because 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 even exemption of commodities, are finished in reference to 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 items. The list presents the sum of the product coding with variety of categories, simplifying your responsibilities of importers and exporters. You can easily access this code list over the web with the online data the likes of Infodrive Indian. Besides providing a detailed HS tariff list, the corporation has also provided an internal search box for searching the codes of particular goods it really is quite entering the product’s bands.