Harmonized code or HS Code is an inevitable aspect of this import export deal. It is a unique numerical code allotted to various products and commodities required while shipping from one country to another. It 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 India. The international coding system has been adopted in India for export import function. It is an eight digit code which includes been developed at par with the international coding system to suit the requirements of the international trading community for the country. The code is basically, a rare ID assigned using a particular trading product, which is utilized by more than 200 countries across the planet.
dgft IEC Registration Online India India in the governing authority that takes care of the changes or formulation or addition of new codes in the existing harmonized code listing. The authority performs periodical pursuits like commodity description, weeding the particular defunct codes, addition of recent codes, change of description of product etc. It maintains the harmonized code list, may a bunch of such codes classified under 21 parts. 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. Each of these 21 sections is further broken into 98 chapters. The chapters are further separated into sub-headings this agreement particular HS Codes for several products are mentioned.
Every trader dealing in international market has post the particular code involving his product in all of the forms and other important paperwork that become filled up at the time of export import. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are finished in hitting the ground with the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, might have been very troublesome for the traders to search for a particular segment of merchandise. The list presents the whole of the product coding with a number of categories, simplifying a job of importers and exporters. You could access this code list over the net with the online data the likes of Infodrive The indian subcontinent. Besides providing additional HS tariff list, the company has also provided an indoor search box for searching the codes of particular goods because of entering the product’s bands.