Harmonized code or HS Code a good inevitable aspect of this import export dealings. 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 from your Director General of Foreign Trade or dgft IE Code Online Application Procedure India India. The international coding system has been adopted in India for export import techniques. It is an eight digit code provides been developed at par with the international coding system to suit automobile of the international trading community on the country. The code is basically, a unique ID assigned any particular trading product, which is used by more than 200 countries across society.
DGFT India in the governing authority that looks after 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 the latest codes, change of product description etc. It maintains the harmonized code list, and also a collection of such codes classified under 21 sectors. 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 split up into 98 sections. The chapters are further put into sub-headings to which particular HS Codes many products are mentioned.
Every trader dealing in international market has post the particular code number of his product in all the forms as well important paperwork that to be able to filled up at period of import export. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are performed in experience with the code mentioned in the papers. Hence one can say 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 sum of the product coding with a lot of of categories, simplifying the task of importers and exporters. You is likely to access this code list over the net with the online data businesses like Infodrive Of india. Besides providing an end HS tariff list, vehicle has also provided an indoor search box for searching the codes of particular goods because of entering the product’s names.