Harmonized code or HS Code is an inevitable aspect of the import export dealings. 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 your 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 automobile of the international trading community for the country. The code is basically, a rare ID assigned to a particular trading product, which is simply by more than 200 countries across society.
dgft IE Code Online Registration in India India in the governing authority that looks after the changes or formulation or addition of new codes the actual existing harmonized code listing. The authority does periodical pursuits 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 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. Every these 21 sections is further divided into 98 sections. The chapters are further divided into sub-headings under which particular HS Codes many products are mentioned.
Every trader dealing in international market has to note the particular code associated with his product in all of the forms as well important paperwork that must be filled up at time of import and export. All the attached activities like customs duty or excise duty or drawback rates or even exemption of commodities, are carried out in experience of the code mentioned inside 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 track down a particular segment of merchandise. The list presents the whole of the product coding with variety of categories, simplifying a job of importers and exporters. You in many cases can access this code list over the world wide web with the internet data companies like Infodrive Indian. Besides providing a comprehensive HS tariff list, the company has also provided an interior search box for searching the codes of particular goods via entering the product’s names.