Harmonized code or HS Code is an inevitable aspect within the import export commerce. It is a unique numerical code allotted to various products and commodities required while shipping from one country to another. Its 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 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 from the country. The code is basically, a fashionable ID assigned a new particular trading product, which is by simply more than 200 countries across the world.
DGFT India in the governing authority that looks after the changes or formulation or addition of new codes regarding existing harmonized code place. The authority performs periodical activities like commodity description, weeding beyond defunct codes, addition of recent codes, change of description of product etc. It maintains the harmonized code list, may a collection 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 split into sub-headings this agreement particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to bring up the particular code regarding his product in all of the forms along with important paperwork that must be filled up at time of Import Export Code Online Registration India and export. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are performed in hitting the ground with the code mentioned inside of the papers. Hence one know that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, it have been very troublesome for participants to search for a particular segment of merchandise. The list presents the product coding with variety of categories, simplifying your responsibilities of importers and exporters. You could access this code list over the web with the internet data brands like Infodrive India. Besides providing a complete HS tariff list, the company has also provided an interior search box for searching the codes of particular goods because of entering the product's names.