Harmonized code or HS Code a good inevitable aspect of the import export make trades. It is a unique numerical code assigned to various products and commodities required while shipping from one country to another. Its used to describe particular goods your import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained 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 provides been developed at par with the international coding system to suit the requirements of the international trading community for the country. The code is basically, a unique ID assigned any particular trading product, which is by simply 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 list. The authority performs periodical pursuits like commodity description, weeding the defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, which is a number 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. Each of these 21 sections is further divided into 98 sections. The chapters are further split up into sub-headings to which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to bring up the particular code regarding his product in all of the forms as well important paperwork that must be filled up at time of import export. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are carried out in example of 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, it would have been very troublesome for participants to search for a particular segment of items. The list presents the product coding with variety of categories, simplifying a job of importers and exporters. You can easily access this code list over the online world with the internet data businesses like Infodrive Of india. Besides providing additional HS tariff list, vehicle has also provided an indoor search box for searching the codes of particular goods simply by entering the product’s makers.