Harmonized code or HS Code is an inevitable aspect in the import export trade. It is a unique numerical code used on various products and commodities required while shipping from one country to another. It is 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 which been developed at par with the international coding system to suit vehicle of the international trading community belonging to the country. The code is basically, a good ID assigned the particular trading product, which is utilized by more than 200 countries across society.
dgft IE Code Online Registration in India India in the governing authority that attends to the changes or formulation or addition of new codes the actual existing harmonized code guidelines. The authority performs periodical pursuits like commodity description, weeding the actual defunct codes, addition of new codes, change of product description etc. It maintains the harmonized code list, which is a bunch 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. All of these 21 sections is further separated into 98 chapters. The chapters are further split up into sub-headings this agreement particular HS Codes for several products are mentioned.
Every trader dealing in international market has to mention the particular code connected with his product in all of the forms as well important paperwork that to be able to filled up at period of import and export. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are finished in experience with the code mentioned ultimately papers. Hence one know that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, always be have been very troublesome for the traders to investigation for a particular segment of products. The list presents the whole of the product coding with amount of categories, simplifying your responsibilities of importers and exporters. You is likely to access this code list over the internet with the online data manufacturers like Infodrive Indian. Besides providing a comprehensive HS tariff list, the corporation has also provided an indoor search box for searching the codes of particular goods because of entering the product’s companies.