Harmonized code or HS Code a good inevitable aspect of the import export make trades. It is a unique numerical code assigned to various products and commodities required while shipping from one country to another. Its used to describe particular goods regarding Import Export Code Online Registration India export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained from your Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import action. It is an eight digit code provides been developed at par with the international coding system to suit vehicle of the international trading community from the country. The code is basically, a fashionable ID assigned any particular trading product, which is simply by more than 200 countries across society.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes regarding existing harmonized code place. The authority does periodical activities like commodity description, weeding the particular defunct codes, addition of new 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. Every these 21 sections is further divided into 98 chapters. The chapters are further separated into sub-headings under which particular HS Codes many products are mentioned.
Every trader dealing in international market has to say the particular code involving his product in all of the forms because important paperwork that needs to filled up at time of export import. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are carried out in experience with the code mentioned in the papers. Hence one can tell that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, always be have been very troublesome for participants to search for a particular segment of merchandise. The list presents the entire product coding with variety of of categories, simplifying the duty of importers and exporters. You can potentially access this code list over the internet with the online data companies like Infodrive Sweden. Besides providing a complete HS tariff list, vehicle has also provided an inside search box for searching the codes of particular goods by way of entering the product’s names.