Harmonized code or HS Code a good inevitable aspect in the import export make trades. It is a unique numerical code used on various products and commodities required while shipping from nation to another. In order to used to describe particular goods within the Import Export Code Online Registration India export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained from 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 that has 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 to a particular trading product, which is utilized by more than 200 countries across the world.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes regarding existing harmonized code listing. The authority carries out periodical pursuits like commodity description, weeding beyond defunct codes, addition of new codes, change of product description etc. It maintains the harmonized code list, may a selection of such codes classified under 21 sections. 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 chapters. The chapters are further separated into sub-headings to which particular HS Codes many products are mentioned.
Every trader dealing in international market has to note the particular code involving his product in all of the forms and other important paperwork that to be able to filled up at period of import and export. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are performed in experience with the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, it have been very troublesome for the traders to watch for a particular segment of items. The list presents the sum of the product coding with a number of categories, simplifying the procedure of importers and exporters. You can easily access this code list over the web with the internet data companies like Infodrive Of india. Besides providing a detailed HS tariff list, the corporation has also provided an interior search box for searching the codes of particular goods via entering the product’s makers.