Harmonized code or HS Code a great inevitable aspect for the import export trade. It is a unique numerical code assigned to various products and commodities required while shipping from one country to another. Is used to describe particular goods regarding import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained by the Director General of Foreign Trade or dgft IE Code Online Application Procedure 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 vehicle of the international trading community of the country. The code is basically, a good ID assigned any particular trading product, which is used by more than 200 countries across society.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes regarding existing harmonized code place. The authority performs periodical pursuits like commodity description, weeding the actual defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, may a selection of such codes classified under 21 parts. 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 split up into 98 chapters. The chapters are further divided into sub-headings to which particular HS Codes many products are mentioned.
Every trader dealing in international market has to mention the particular code involving his product in all of the forms along with important paperwork that needs to filled up at time of import and export. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are executed in hitting the ground with the code mentioned inside the papers. Hence one know that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, might have been very troublesome for participants to investigation for a particular segment of products. The list presents the sum of the product coding with a lot of of categories, simplifying the task of importers and exporters. You can potentially access this code list over the web with the online data the likes of Infodrive India. Besides providing a detailed HS tariff list, the corporate has also provided an inside search box for searching the codes of particular goods it really is quite entering the product’s names.