Harmonized code or HS Code a great inevitable aspect for the import export commerce. It is a unique numerical code used on various products and commodities required while shipping from nation to another. Its 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 from your Director General of Foreign Trade or dgft IE Code Online Application Procedure India India. The international coding system has been adopted in India for export import action. 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 using a particular trading product, which is simply by more than 200 countries across earth.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes the actual existing harmonized code list of reasons. The authority does 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 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 put into 98 sections. The chapters are further divided into sub-headings under which particular HS Codes many products are mentioned.
Every trader dealing in international market has to mention the particular code number of his product in all the forms because important paperwork that to be able to filled up at the time of import export. All the related activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are executed in example of the code mentioned inside of the papers. Hence one can say that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, it would have been very troublesome for the traders to investigation for a particular segment of merchandise. The list presents the whole of the product coding with a number of categories, simplifying a job of importers and exporters. You could access this code list over the internet with the online data brands like Infodrive Indian. Besides providing a complete HS tariff list, the corporate has also provided an interior search box for searching the codes of particular goods via entering the product’s bands.