Harmonized code or HS Code a great inevitable aspect within the import export dealings. It is a unique numerical code used on various products and commodities required while shipping from one country to another. In order to 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 India. The international coding system has been adopted in India for export import operations. It is an eight digit code which includes been developed at par with the international coding system to suit vehicle of the international trading community from the country. The code is basically, a rare ID assigned using a particular trading product, which is utilized by more than 200 countries across earth.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes regarding existing harmonized code list. The authority does periodical activities like commodity description, weeding the defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, which is 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. 1 of these 21 sections is further put into 98 sections. The chapters are further divided into sub-headings to which particular HS Codes for different products are mentioned.
Every trader dealing in international market has post the particular code regarding his product in all of the forms along with important paperwork that needs to filled up at period of export import. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are executed in reference to the code mentioned inside of 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 the traders to search for a particular segment of products. The list presents the product coding with a lot of of categories, simplifying the duty of importers and exporters. You is likely to access this code list over the Apply IEC Online India world with the online data manufacturers like Infodrive Sweden. Besides providing a comprehensive HS tariff list, the company has also provided an indoor search box for searching the codes of particular goods it really is quite entering the product’s such as :.