Harmonized code or HS Code is actually inevitable aspect within 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. It is used to describe particular goods within the 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 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 that has been developed at par with the international coding system to suit automobile of the international trading community from the country. The code is basically, a rare ID assigned a new particular trading product, which is simply by more than 200 countries across the planet.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes in the existing harmonized code list. The authority performs periodical pursuits like commodity description, weeding the actual defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, which is a bunch 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. All of these 21 sections is further separated into 98 chapters. 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 regarding his product in all of the forms because important paperwork that to be able to filled up at the time of export import. All the related activities like customs duty or excise duty or drawback rates or even 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 commerce. If the HS tariff list was not available, end up being have been very troublesome for the traders to track down a particular segment of items. The list presents the entire product coding with amount of categories, simplifying the procedure of importers and exporters. You can easily access this code list over the world wide web with the internet data manufacturers like Infodrive Sweden. Besides providing additional HS tariff list, the corporate has also provided an internal search box for searching the codes of particular goods because of entering the product’s such as :.