Harmonized code or HS Code a great inevitable aspect of the import export dealings. It is a unique numerical code assigned to various products and commodities required while shipping from nation to another. Around the globe used to describe particular goods your 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 action. It is an eight digit code provides been developed at par with the international coding system to suit automobile of the international trading community of the country. The code is basically, a good ID assigned the particular trading product, which is utilized by more than 200 countries across society.
dgft IEC Registration Online India India in the governing authority that looks after the changes or formulation or addition of new codes regarding existing harmonized code place. The authority performs periodical pursuits like commodity description, weeding beyond defunct codes, addition of brand new codes, change of product description etc. It maintains the harmonized code list, which is a bunch 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. 1 of these 21 sections is further put into 98 chapters. The chapters are further split into sub-headings this agreement particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to say the particular code connected with his product in all of the forms and other important paperwork that end up being filled up at time of import export. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are carried out in hitting the ground with the code mentioned inside of the papers. Hence one can tell that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, it would have been very troublesome for the traders to search for a particular segment of products. The list presents the product coding with variety of of categories, simplifying a job of importers and exporters. You could access this code list over the online world with the online data the likes of Infodrive Of india. Besides providing a complete HS tariff list, the company has also provided an indoor search box for searching the codes of particular goods it really is quite entering the product’s names.