Harmonized code or HS Code is actually inevitable aspect of the import export commerce. It is a unique numerical code assigned to various products and commodities required while shipping from nation to another. Its 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 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 vehicle of the international trading community belonging to the country. The code is basically, a fashionable ID assigned to a particular trading product, which is used by more than 200 countries across entire world.
dgft IE Code Registration Online India India in the governing authority that provides the changes or formulation or addition of new codes the actual existing harmonized code place. The authority does periodical activities like commodity description, weeding the actual defunct codes, addition of the latest codes, change of product description etc. It maintains the harmonized code list, which is a bunch 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. All of these 21 sections is further broken into 98 sections. The chapters are further divided into sub-headings to which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to bring up the particular code connected with his product in all the forms because important paperwork that end up being filled up at the time of import export. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are executed in reference to the code mentioned inside of the papers. Hence one can say that these codes are mandatory while dealing in foreign return. 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 full product coding with amount of categories, simplifying a job of importers and exporters. You is likely to access this code list over the online world with the internet data businesses like Infodrive The indian subcontinent. Besides providing additional HS tariff list, vehicle has also provided an interior search box for searching the codes of particular goods by way of entering the product’s makers.