Harmonized code or HS Code is actually inevitable aspect in the import export make trades. It is a unique numerical code allotted to various products and commodities required while shipping from one country to another. Its used to describe particular goods your past 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 IEC Registration Online India India. The international coding system has been adopted in India for export import function. It is an eight digit code which has been developed at par with the international coding system to suit the requirements of the international trading community from the country. The code is basically, a unique ID assigned the particular trading product, which is through more than 200 countries across the planet.
DGFT India in the governing authority that looks after the changes or formulation or addition of new codes the actual existing harmonized code listing. The authority carries out periodical pursuits like commodity description, weeding the particular defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, which is a collection of such codes classified under 21 sections. 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 broken into 98 chapters. The chapters are further divided into sub-headings this agreement particular HS Codes many products are mentioned.
Every trader dealing in international market has post the particular code number of his product in all of the forms as well important paperwork that end up being filled up at the time of import export. All the related activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are executed in reference to the code mentioned in the papers. Hence one can tell that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, might have been very troublesome for the traders to search for a particular segment of items. The list presents the entire product coding with variety of categories, simplifying the duty of importers and exporters. You can easily access this code list over the internet with the online data brands like Infodrive Sweden. Besides providing a complete HS tariff list, the corporate has also provided an indoor search box for searching the codes of particular goods it really is quite entering the product’s such as :.