Harmonized code or HS Code is an inevitable aspect for the import export commerce. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. Its 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 the Director General of Foreign Trade or dgft IE Code Online Registration in India India. The international coding system has been adopted in India for export import function. It is an eight digit code which includes 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 a new particular trading product, which is simply by more than 200 countries across society.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes the actual existing harmonized code guidelines. The authority does periodical activities like commodity description, weeding out of defunct codes, addition of brand new codes, change of product description etc. It maintains the harmonized code list, which is 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. Both these 21 sections is further broken into 98 chapters. The chapters are further put into sub-headings this agreement 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 along with important paperwork that end up being filled up at period of export import. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are performed in reference to the code mentioned inside of the papers. Hence one know that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, end up being have been very troublesome for participants to watch for a particular segment of products. The list presents the full product coding with variety of categories, simplifying the duty of importers and exporters. You can easily access this code list over the world wide web with the internet data brands like Infodrive Indian. Besides providing a complete HS tariff list, organization has also provided an interior search box for searching the codes of particular goods by way of entering the product’s bands.