Harmonized code or HS Code a great inevitable aspect within the import export dealings. 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 your past Import Export Code Online Registration India 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 procedure. It is an eight digit code that has been developed at par with the international coding system to suit the requirements of the international trading community belonging to the country. The code is basically, a rare ID assigned the particular trading product, which is utilized by more than 200 countries across earth.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes in existing harmonized code list. The authority performs periodical pursuits like commodity description, weeding out of defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, may a collection 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. Both these 21 sections is further split up into 98 chapters. The chapters are further split into sub-headings this agreement particular HS Codes for several products are mentioned.
Every trader dealing in international market has to note the particular code regarding his product in all of the forms as well important paperwork that to be able to filled up at the time of import export. All the related activities like customs duty or excise duty or drawback rates or even exemption of commodities, are finished in example 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, end up being have been very troublesome for participants to watch for a particular segment of products. The list presents the full product coding with amount of categories, simplifying the procedure of importers and exporters. You could access this code list over the world wide web with the internet data manufacturers like Infodrive Indian. Besides providing a detailed HS tariff list, the corporate has also provided an internal search box for searching the codes of particular goods because of entering the product’s companies.