Harmonized code or HS Code a great inevitable aspect for the import export dealings. It is a unique numerical code sent to various products and commodities required while shipping from nation to another. Is used to describe particular goods regarding 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 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 has been developed at par with the international coding system to suit automobile of the international trading community for the country. The code is basically, a fashionable ID assigned the particular trading product, which is through 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 list. The authority performs periodical pursuits like commodity description, weeding the actual defunct codes, addition of the latest codes, change of product description etc. It maintains the harmonized code list, and also a range of such codes classified under 21 business units. 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 this agreement particular HS Codes many products are mentioned.
Every trader dealing in international market has to bring up the particular code number of his product in all the forms and other important paperwork that to be able to filled up at the time of import export. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are performed in experience of the code mentioned inside the papers. Hence one can tell that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, might have been very troublesome for participants to search for a particular segment of items. The list presents the product coding with amount of categories, simplifying the procedure of importers and exporters. You in many cases can access this code list over the online world with the internet data brands like Infodrive The indian subcontinent. Besides providing a comprehensive HS tariff list, the corporate has also provided an interior search box for searching the codes of particular goods because of entering the product’s companies.