Harmonized code or HS Code can be an inevitable aspect in the import export commerce. It is a unique numerical code used on various products and commodities required while shipping from one country to another. Its used to describe particular goods your import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained by the Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import operations. It is an eight digit code which been developed at par with the international coding system to suit vehicle of the international trading community on the country. The code is basically, a special ID assigned the particular trading product, which is simply by more than 200 countries across the planet.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes in the existing harmonized code listing. The authority carries out periodical pursuits like commodity description, weeding the actual defunct codes, addition of recent codes, change of description of product etc. It maintains the harmonized code list, which is a collection 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 under which particular HS Codes for several products are mentioned.
Every trader dealing in international market has to bring up the particular code number of his product in all of the forms and also important paperwork that needs to filled up at period of Import Export Code Online Registration India and export. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are finished in experience of the code mentioned inside the papers. Hence one can say that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, it 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 of categories, simplifying the duty of importers and exporters. You can easily access this code list over the web with the online data manufacturers like Infodrive Sweden. Besides providing a comprehensive HS tariff list, organization has also provided an interior search box for searching the codes of particular goods because of entering the product’s names.