Harmonized code or HS Code can be an inevitable aspect of this import export make trades. It is a unique numerical code allotted to various products and commodities required while shipping from one country to another. It is 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 from your 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 that has been developed at par with the international coding system to suit vehicle of the international trading community for the country. The code is basically, a fashionable ID assigned any particular trading product, which is used by more than 200 countries across the planet.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes the actual existing harmonized code place. The authority performs periodical activities like commodity description, weeding the defunct codes, addition of new codes, change of description of product etc. It maintains the harmonized code list, which is a range 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. Each of these 21 sections is further divided into 98 sections. The chapters are further separated into sub-headings to which particular HS Codes many products are mentioned.
Every trader dealing in international market has to note the particular code associated with his product in all of the forms along with important paperwork that must be filled up at the time of export Import Export Code Application Online India. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are performed in experience of the code mentioned in the papers. Hence one can tell that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, it would have been very troublesome for participants to search for a particular segment of items. The list presents the whole of the product coding with a number of categories, simplifying a job of importers and exporters. You could access this code list over the internet with the online data manufacturers like Infodrive Of india. Besides providing a detailed HS tariff list, the corporation has also provided an inside search box for searching the codes of particular goods because of entering the product’s bands.