Harmonized code or HS Code is an inevitable aspect in the import export commerce. It is a unique numerical code used on various products and commodities required while shipping from one country to another. In order to 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 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 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 from the country. The code is basically, a unique ID assigned the particular trading product, which is utilized by more than 200 countries across entire world.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes in existing harmonized code list of reasons. The authority does periodical pursuits like commodity description, weeding out of defunct codes, addition of recent codes, change of product description etc. It maintains the harmonized code list, may a range 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. Each of these 21 sections is further separated into 98 sections. The chapters are further split into sub-headings this agreement particular HS Codes many products are mentioned.
Every trader dealing in international market has to say the particular code connected with his product in all of the forms because important paperwork that become filled up at period of import export. All the related activities like customs duty or excise duty or drawback rates or even exemption of commodities, are finished in experience of the code mentioned in the papers. Hence one can say 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 the traders to search for a particular segment of items. The list presents the full product coding with a number of categories, simplifying your responsibilities of importers and exporters. You in many cases can access this code list over the world wide web with the internet data businesses like Infodrive India. Besides providing a comprehensive HS tariff list, organization has also provided an enclosed search box for searching the codes of particular goods by way of entering the product’s makers.