Harmonized code or HS Code is an inevitable aspect of the import export dealings. It is a unique numerical code used on various products and commodities required while shipping from one country to another. Around the globe 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 IEC Registration Online India India. The international coding system has been adopted in India for export import operations. 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 on the country. The code is basically, a unique ID assigned to a particular trading product, which is through more than 200 countries across earth.
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 carries out periodical activities like commodity description, weeding the particular defunct codes, addition of recent codes, change of product description etc. It maintains the harmonized code list, which is a number of such codes classified under 21 pieces. 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. 1 of these 21 sections is further put 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 bring up the particular code associated with his product in all of the forms along with important paperwork that must be filled up at time of import and export. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are performed in hitting the ground with 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 investigation for a particular segment of items. The list presents the full product coding with a number of categories, simplifying the task of importers and exporters. You can potentially access this code list over the online world with the online data businesses like Infodrive Of india. Besides providing a comprehensive HS tariff list, the company has also provided an internal search box for searching the codes of particular goods it really is quite entering the product's bands.