Harmonized code or HS Code a good inevitable aspect in the import export commerce. It is a unique numerical code allotted to various products and commodities required while shipping from one country to another. In order to used to describe particular goods in 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 procedure. It is an eight digit code provides been developed at par with the international coding system to suit vehicle of the international trading community on the country. The code is basically, a special ID assigned the particular trading product, which is by simply more than 200 countries across society.
DGFT India in the governing authority that looks after the changes or formulation or addition of new codes in existing harmonized code list. The authority carries out periodical activities like commodity description, weeding the defunct codes, addition of brand new codes, change of description of product etc. It maintains the harmonized code list, along with that is a number of such codes classified under 21 pieces. 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. All of these 21 sections is further separated into 98 chapters. The chapters are further separated into sub-headings this agreement particular HS Codes to target other products are mentioned.
Every trader dealing in international market has post the particular code regarding his product in all of the forms because important paperwork that to be able to filled up at time of Import Export Code Application Online India and export. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are executed in example of the code mentioned ultimately papers. Hence one know that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, always be have been very troublesome for the traders to search for a particular segment of items. The list presents the sum of the product coding with a lot of of categories, simplifying a job of importers and exporters. You can potentially access this code list over the online world with the online data companies like Infodrive Indian. Besides providing an end HS tariff list, the corporate has also provided an inside search box for searching the codes of particular goods simply by entering the product’s bands.