Harmonized code or HS Code a good inevitable aspect within the import export commerce. It is a unique numerical code assigned to various products and commodities required while shipping from nation to another. Its used to describe particular goods your 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 techniques. It is an eight digit code that has been developed at par with the international coding system to suit vehicle of the international trading community belonging to the country. The code is basically, a rare ID assigned any particular trading product, which is utilized by more than 200 countries across entire world.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes previously existing harmonized code place. The authority carries out periodical pursuits like commodity description, weeding out of defunct codes, addition of new codes, change of product description etc. It maintains the harmonized code list, which is a number 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. Each of these 21 sections is further broken into 98 sections. The chapters are further split up into sub-headings this agreement particular HS Codes for several products are mentioned.
Every trader dealing in international market has post the particular code associated with his product in all the forms because important paperwork that needs to filled up at the time of Import Export Code Online Registration India export. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are finished in experience of 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, it have been very troublesome for the traders to investigation for a particular segment of merchandise. The list presents the full product coding with variety of of categories, simplifying the procedure of importers and exporters. You can potentially access this code list over the internet with the online data the likes of Infodrive India. Besides providing a complete HS tariff list, the corporation has also provided an enclosed search box for searching the codes of particular goods because of entering the product’s names.