Harmonized code or HS Code a great inevitable aspect of this import export make trades. It is a unique numerical code allotted to various products and commodities required while shipping from one country to another. In order to used to describe particular goods within the 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 India. The international coding system has been adopted in India for export Import Export Code Online Registration India operations. It is an eight digit code provides 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 rare ID assigned any particular trading product, which is by simply more than 200 countries across the world.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes regarding existing harmonized code listing. The authority performs periodical pursuits like commodity description, weeding out of defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, which is a collection 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 separated into 98 chapters. The chapters are further divided 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 regarding his product in all the forms and other important paperwork that end up being filled up at period of import export. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are carried out in experience of the code mentioned ultimately papers. Hence one can tell that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, it have been very troublesome for the traders to track down a particular segment of merchandise. The list presents the full product coding with amount of categories, simplifying the duty of importers and exporters. You could access this code list over the internet with the online data manufacturers like Infodrive Indian. Besides providing a comprehensive HS tariff list, the company has also provided an internal search box for searching the codes of particular goods via entering the product’s such as :.