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. Its 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 by the 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 which includes been developed at par with the international coding system to suit the requirements of the international trading community belonging to the country. The code is basically, a special ID assigned to a particular trading product, which is by simply more than 200 countries across society.
dgft IE Code Registration Online India India in the governing authority that covers the changes or formulation or addition of new codes in the existing harmonized code list of reasons. The authority carries out periodical activities like commodity description, weeding the actual defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, along with that is a bunch 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. Each of these 21 sections is further put into 98 sections. The chapters are further split into sub-headings under which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to say the particular code regarding his product in all of the forms because important paperwork that become filled up at time of export import. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are performed in reference to the code mentioned ultimately papers. Hence one can tell that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, end up being have been very troublesome for participants to track down a particular segment of items. The list presents the 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 Indian. Besides providing additional HS tariff list, the corporate has also provided an internal search box for searching the codes of particular goods by way of entering the product’s makers.