Harmonized code or HS Code can be an inevitable aspect of the import export trade. 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 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 IE Code Online Registration in India India. The international coding system has been adopted in India for export import function. It is an eight digit code which includes been developed at par with the international coding system to suit the requirements of the international trading community of the country. The code is basically, a rare ID assigned using a particular trading product, which is used by more than 200 countries across earth.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes previously existing harmonized code place. The authority performs periodical pursuits like commodity description, weeding out of defunct codes, addition of recent codes, change of product description etc. It maintains the harmonized code list, along with that is a number of such codes classified under 21 pieces. 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. 1 of these 21 sections is further put into 98 sections. The chapters are further separated into sub-headings to which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to mention the particular code associated with his product in all the forms along with important paperwork that end up being filled up at time of import export. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are finished in hitting the ground with the code mentioned inside of the papers. Hence one can tell that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, it would have been very troublesome for participants to watch for a particular segment of merchandise. The list presents the product coding with variety of of categories, simplifying a job of importers and exporters. You in many cases can access this code list over the internet with the internet data companies like Infodrive Sweden. Besides providing an end HS tariff list, vehicle has also provided an inside search box for searching the codes of particular goods via entering the product’s bands.