Harmonized code or HS Code is actually inevitable aspect within the import export trade. It is a unique numerical code allotted to various products and commodities required while shipping from one country to another. Around the globe used to describe particular goods within the 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 function. 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 rare ID assigned the 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 takes care of the changes or formulation or addition of new codes the actual existing harmonized code place. The authority performs periodical pursuits like commodity description, weeding out of defunct codes, addition of brand new codes, change of description of product 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. All of these 21 sections is further split up into 98 sections. The chapters are further split into sub-headings this agreement particular HS Codes for several products are mentioned.
Every trader dealing in international market has to bring up the particular code involving his product in all the forms as well important paperwork that needs to filled up at the time of import export. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are finished in hitting the ground with the code mentioned inside the papers. Hence one know that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, it have been very troublesome for participants to watch for a particular segment of products. The list presents the product coding with a number of categories, simplifying the task of importers and exporters. You in many cases can access this code list over the net with the online data manufacturers like Infodrive Of india. Besides providing a detailed HS tariff list, organization has also provided an inside search box for searching the codes of particular goods simply by entering the product’s companies.