Harmonized code or HS Code a great inevitable aspect of the import export deal. It is a unique numerical code allotted to various products and commodities required while shipping from nation to another. Around the globe 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 the Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import operations. It is an eight digit code which been developed at par with the international coding system to suit the requirements of the international trading community from the country. The code is basically, a unique ID assigned a new particular trading product, which is used by more than 200 countries across the planet.
dgft IE Code Registration Online India India in the governing authority that takes care of the changes or formulation or addition of new codes regarding existing harmonized code listing. The authority performs periodical pursuits like commodity description, weeding beyond defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, may 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. All of these 21 sections is further divided into 98 sections. The chapters are further separated into sub-headings under 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 to be able to filled up at time of import export. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are finished in experience of the code mentioned in the papers. Hence one can say 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 track down a particular segment of merchandise. The list presents the entire product coding with variety of of categories, simplifying your responsibilities of importers and exporters. You can easily access this code list over the net with the internet data the likes of Infodrive The indian subcontinent. Besides providing an end HS tariff list, the corporation has also provided an interior search box for searching the codes of particular goods by way of entering the product’s makers.