Harmonized code or HS Code can be an inevitable aspect within the import export dealings. It is a unique numerical code used on various products and commodities required while shipping from one country to another. Is used to describe particular goods your 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 India. The international coding system has been adopted in India for export import techniques. It is an eight digit code which has been developed at par with the international coding system to suit the requirements of the international trading community on the country. The code is basically, a special ID assigned to a particular trading product, which is simply by more than 200 countries across society.
dgft IE Code Online Registration in India India in the governing authority that covers the changes or formulation or addition of new codes previously existing harmonized code listing. The authority carries out periodical activities like commodity description, weeding the actual defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, may 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. Both these 21 sections is further split up into 98 sections. The chapters are further split up into sub-headings to which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to bring up the particular code associated with his product in all the forms and other important paperwork that to be able to filled up at the time of import and export. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are carried out in reference to the code mentioned ultimately papers. Hence one know that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, might have been very troublesome for participants to search for a particular segment of items. The list presents the product coding with a lot of of categories, simplifying a job of importers and exporters. You could access this code list over the net with the online data the likes of Infodrive Indian. Besides providing a detailed HS tariff list, the company has also provided an internal search box for searching the codes of particular goods via entering the product’s bands.