Harmonized code or HS Code can be an inevitable aspect of the import export make trades. It is a unique numerical code sent to various products and commodities required while shipping from nation to another. Around the globe used to describe particular goods your 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 IE Code Online Registration in India 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 on the country. The code is basically, a unique 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 in the existing harmonized code listing. The authority does periodical pursuits like commodity description, weeding beyond defunct codes, addition of recent codes, change of description of product etc. It maintains the harmonized code list, which is a collection of such codes classified under 21 sectors. 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 divided into sub-headings to which particular HS Codes for different products are mentioned.
Every trader dealing in international market has post the particular code number of his product in all the forms because important paperwork that become filled up at time of export import. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are finished in example of the code mentioned inside the papers. Hence one can tell 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 the traders to watch for a particular segment of items. The list presents the whole of the product coding with variety of categories, simplifying a job of importers and exporters. You is likely to access this code list over the world wide web with the internet data manufacturers like Infodrive Of india. Besides providing a comprehensive HS tariff list, vehicle has also provided an internal search box for searching the codes of particular goods because of entering the product’s makers.