Harmonized code or HS Code is an inevitable aspect within the import export trade. 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 your past 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 IEC Registration Online India 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 on the country. The code is basically, a unique ID assigned using a particular trading product, which is simply by more than 200 countries across entire world.
DGFT India in the governing authority that covers 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 out of defunct codes, addition of recent codes, change of description of product etc. It maintains the harmonized code list, which is a range 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. Every these 21 sections is further broken into 98 chapters. The chapters are further split up into sub-headings to which 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 the forms as well important paperwork that become filled up at time of import export. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are carried out in reference to the code mentioned inside the papers. Hence one can tell that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, it would have been very troublesome for the traders to search for a particular segment of merchandise. The list presents the sum of the product coding with amount of categories, simplifying the task of importers and exporters. You is likely to access this code list over the web with the online data manufacturers like Infodrive India. Besides providing a complete HS tariff list, the corporation has also provided an interior search box for searching the codes of particular goods via entering the product’s companies.