Harmonized code or HS Code is an inevitable aspect of the import export trade. It is a unique numerical code used on various products and commodities required while shipping from one country to another. Around the globe used to describe particular goods your past 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 action. 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 belonging to the country. The code is basically, a fashionable ID assigned any particular trading product, which is through 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 existing harmonized code place. The authority performs periodical activities like commodity description, weeding beyond defunct codes, addition of recent codes, change of description of product etc. It maintains the harmonized code list, may a bunch of such codes classified under 21 business units. 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 separated into sub-headings this agreement particular HS Codes for different products are mentioned.
Every trader dealing in international market has to mention the particular code regarding his product in all the forms along with important paperwork that become 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 example of the code mentioned inside of the papers. Hence one know that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, it would have been very troublesome for participants to search for a particular segment of products. The list presents the entire product coding with amount of categories, simplifying a job of importers and exporters. You in many cases can access this code list over the internet with the online data manufacturers like Infodrive Sweden. Besides providing a detailed HS tariff list, organization has also provided an inside search box for searching the codes of particular goods by way of entering the product’s makers.