Harmonized code or HS Code is actually inevitable aspect for the import export trade. It is a unique numerical code allotted to various products and commodities required while shipping from nation to another. It is used to describe particular goods your 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 India. The international coding system has been adopted in India for export import techniques. It is an eight digit code provides 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 special ID assigned the 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 looks after the changes or formulation or addition of new codes previously existing harmonized code guidelines. The authority does periodical pursuits like commodity description, weeding the actual defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, may a number of such codes classified under 21 sectors. 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 put into sub-headings to which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to mention the particular code involving his product in all the forms and also important paperwork that end up being filled up at the time of import and export. All the related activities like customs duty or excise duty or drawback rates or even exemption of commodities, are carried out in example of the code mentioned inside of the papers. Hence one can tell that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, might have been very troublesome for participants to watch for a particular segment of merchandise. The list presents the sum of the product coding with a number of categories, simplifying the duty of importers and exporters. You in many cases can access this code list over the web with the internet data manufacturers like Infodrive Sweden. Besides providing a complete HS tariff list, the company has also provided an internal search box for searching the codes of particular goods because of entering the product’s such as :.