Harmonized code or HS Code is actually inevitable aspect within the import export trade. It is a unique numerical code assigned to various products and commodities required while shipping from one country to another. Is used to describe particular goods regarding import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained through Director General of Foreign Trade or dgft IE Code Online Application Procedure India 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 the requirements of the international trading community of the country. The code is basically, a rare ID assigned using a particular trading product, which is utilized by more than 200 countries across society.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes regarding existing harmonized code listing. The authority does periodical pursuits 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 bunch 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. Both these 21 sections is further split up into 98 chapters. The chapters are further put into sub-headings this agreement particular HS Codes for several products are mentioned.
Every trader dealing in international market has to say the particular code number of his product in all of the forms and also important paperwork that become filled up at period of import export. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are executed in reference to 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 would have been very troublesome for participants to investigation for a particular segment of merchandise. The list presents the product coding with variety of of categories, simplifying the procedure of importers and exporters. You can easily access this code list over the net with the online data manufacturers like Infodrive Indian. 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 makers.