Harmonized code or HS Code a good inevitable aspect of this import export trade. It is a unique numerical code sent to 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 your 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 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 rare ID assigned using a particular trading product, which is used by more than 200 countries across the world.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes previously existing harmonized code place. The authority does periodical pursuits like commodity description, weeding out of defunct codes, addition of the latest codes, change of product description etc. It maintains the harmonized code list, along with that is a collection 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 divided into 98 sections. The chapters are further split into sub-headings under which particular HS Codes to target other 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 must be filled up at time of export import. All the related activities like customs duty or excise duty or drawback rates or even exemption of commodities, are carried out in reference to the code mentioned inside the papers. Hence one can tell that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, might have been very troublesome for the traders to search for a particular segment of merchandise. The list presents the product coding with a lot of of categories, simplifying your responsibilities of importers and exporters. You can potentially access this code list over the internet with the internet data brands like Infodrive Of india. Besides providing a detailed HS tariff list, the corporation has also provided an indoor search box for searching the codes of particular goods simply by entering the product’s names.