Harmonized code or HS Code can be an inevitable aspect for the import export make trades. It is a unique numerical code assigned to various products and commodities required while shipping from one country to another. Around the globe 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 through Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export Import Export Code Application Online India techniques. 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 from the country. The code is basically, a rare ID assigned to a particular trading product, which is simply by more than 200 countries across earth.
DGFT India in the governing authority that provides 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 particular defunct codes, addition of new codes, change of product description etc. It maintains the harmonized code list, which is a range of such codes classified under 21 sectors. 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. 1 of these 21 sections is further put into 98 sections. The chapters are further put into sub-headings under which particular HS Codes for several products are mentioned.
Every trader dealing in international market has to mention the particular code associated with his product in all of the forms and also important paperwork that needs to filled up at time of import and export. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are executed in reference to the code mentioned ultimately papers. Hence one can tell that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, might have been very troublesome for the traders to watch for a particular segment of products. The list presents the product coding with amount of categories, simplifying the procedure of importers and exporters. You could access this code list over the net with the internet data the likes of Infodrive Of india. Besides providing a comprehensive HS tariff list, vehicle has also provided an interior search box for searching the codes of particular goods via entering the product’s makers.