Harmonized code or HS Code is actually inevitable aspect of this import export commerce. It is a unique numerical code allotted to various products and commodities required while shipping from nation to another. In order to used to describe particular goods regarding 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 IE Code Online Registration in India India. The international coding system has been adopted in India for export import function. It is an eight digit code which has been developed at par with the international coding system to suit the requirements of the international trading community on the country. The code is basically, a fashionable ID assigned a new particular trading product, which is simply by more than 200 countries across entire world.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes in existing harmonized code list. The authority performs periodical activities like commodity description, weeding beyond defunct codes, addition of the latest codes, change of product description etc. It maintains the harmonized code list, which is a range 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. All of these 21 sections is further broken into 98 chapters. The chapters are further split into sub-headings to which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to mention the particular code connected with his product in all the forms and also important paperwork that become filled up at period of import export. All the related activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are finished in experience of the code mentioned inside the papers. Hence one can say that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, it have been very troublesome for participants to search for a particular segment of products. The list presents the sum of the product coding with variety of of categories, simplifying the duty of importers and exporters. You is likely to access this code list over the web with the online data brands like Infodrive Indian. Besides providing a detailed HS tariff list, the corporation has also provided an indoor search box for searching the codes of particular goods via entering the product’s such as :.