Harmonized code or HS Code a good inevitable aspect for the import export trade. It is a unique numerical code assigned to various products and commodities required while shipping from one country 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 India. The international coding system has been adopted in India for export import techniques. It is an eight digit code which includes 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 rare ID assigned a new particular trading product, which is simply by more than 200 countries across society.
dgft IE Code Registration Online India India in the governing authority that provides the changes or formulation or addition of new codes in the existing harmonized code guidelines. The authority does periodical activities like commodity description, weeding the defunct codes, addition of new codes, change of product description etc. It maintains the harmonized code list, along with that is a selection 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. Both these 21 sections is further divided into 98 chapters. The chapters are further split into sub-headings under which particular HS Codes many products are mentioned.
Every trader dealing in international market has to mention the particular code associated with his product in all the forms because important paperwork that needs to filled up at the time of export import. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are finished in experience with the code mentioned inside of the papers. Hence one can say that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, always be have been very troublesome for participants to search for a particular segment of items. The list presents the full product coding with amount of categories, simplifying the duty of importers and exporters. You in many cases can access this code list over the net with the online data companies like Infodrive The indian subcontinent. Besides providing additional HS tariff list, the corporate has also provided an inside search box for searching the codes of particular goods by way of entering the product’s bands.