Harmonized code or HS Code a great inevitable aspect of this import export make trades. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. Its used to describe particular goods regarding 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 Registration Online India India. The international coding system has been adopted in India for export import procedure. It is an eight digit code which has 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 used by more than 200 countries across society.
DGFT India in the governing authority that looks after the changes or formulation or addition of new codes regarding existing harmonized code list of reasons. The authority carries out periodical activities like commodity description, weeding beyond defunct codes, addition of the latest codes, change of product description etc. It maintains the harmonized code list, which is a range of such codes classified under 21 business units. 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 chapters. The chapters are further put into sub-headings this agreement particular HS Codes for several products are mentioned.
Every trader dealing in international market has to note the particular code associated with his product in all the forms and also important paperwork that must be filled up at period of import export. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are executed in example of the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, always be have been very troublesome for participants to search for a particular segment of products. The list presents the product coding with variety of categories, simplifying the duty of importers and exporters. You can potentially access this code list over the online world with the internet data the likes of Infodrive India. Besides providing a comprehensive HS tariff list, the company has also provided an internal search box for searching the codes of particular goods simply by entering the product’s such as :.