Harmonized code or HS Code a great inevitable aspect of the import export deal. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. It is 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 through Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import operations. It is an eight digit code which been developed at par with the international coding system to suit the requirements of the international trading community belonging to the country. The code is basically, a rare ID assigned any particular trading product, which is used by more than 200 countries across society.
dgft IE Code Registration Online India India in the governing authority that covers the changes or formulation or addition of new codes in the existing harmonized code guidelines. The authority performs periodical pursuits like commodity description, weeding the particular defunct codes, addition of brand new codes, change of description of product etc. It maintains the harmonized code list, and also a number 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. Each of these 21 sections is further divided into 98 chapters. The chapters are further divided into sub-headings under which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to bring up the particular code associated with his product in all of the forms because 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 even the exemption of commodities, are finished in hitting the ground with the code mentioned inside the papers. Hence one know that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, end up being 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 procedure of importers and exporters. You is likely to access this code list over the world wide web with the online data brands like Infodrive Indian. Besides providing additional HS tariff list, the corporate has also provided an enclosed search box for searching the codes of particular goods simply by entering the product’s companies.