Harmonized code or HS Code a good inevitable aspect of the import export dealings. It is a unique numerical code allotted to various products and commodities required while shipping from nation to another. Is used to describe particular goods your Import Export Code Online Registration India 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 been developed at par with the international coding system to suit vehicle of the international trading community for the country. The code is basically, a special ID assigned using a particular trading product, which is utilized by more than 200 countries across earth.
DGFT India in the governing authority that looks after the changes or formulation or addition of new codes regarding existing harmonized code place. The authority performs periodical pursuits like commodity description, weeding the particular defunct codes, addition of the latest 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. Both these 21 sections is further separated into 98 sections. The chapters are further split up into sub-headings under which particular HS Codes many products are mentioned.
Every trader dealing in international market has to note the particular code associated with his product in all the forms and other important paperwork that needs to 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 performed in example of the code mentioned in 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 the traders to track down a particular segment of merchandise. The list presents the full product coding with variety of categories, simplifying the duty of importers and exporters. You can easily access this code list over the net with the internet data businesses like Infodrive India. Besides providing a complete HS tariff list, organization has also provided an interior search box for searching the codes of particular goods via entering the product’s bands.