Harmonized code or HS Code is actually inevitable aspect for the import export deal. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. In order to used to describe particular goods in the import 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 Export Code Application Online India techniques. It is an eight digit code which been developed at par with the international coding system to suit automobile of the international trading community on the country. The code is basically, a rare ID assigned any particular trading product, which is by simply more than 200 countries across entire world.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes in the existing harmonized code list. The authority performs periodical pursuits like commodity description, weeding beyond defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, and also a selection 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. All of these 21 sections is further put into 98 sections. The chapters are further divided into sub-headings to which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to mention the particular code regarding his product in all of the forms along with important paperwork that to be able to filled up at period of import export. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are performed in experience of the code mentioned inside the papers. Hence one know that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, it would have been very troublesome for the traders to search for a particular segment of items. The list presents the full product coding with variety of categories, simplifying the duty of importers and exporters. You can potentially access this code list over the web with the online data brands like Infodrive India. Besides providing an end HS tariff list, organization has also provided an interior search box for searching the codes of particular goods because of entering the product’s companies.