Harmonized code or HS Code is an inevitable aspect of the import export deal. It is a unique numerical code allotted to various products and commodities required while shipping from nation to another. In order to 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 the 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 provides been developed at par with the international coding system to suit the requirements of the international trading community on the country. The code is basically, a unique ID assigned a new particular trading product, which is used by more than 200 countries across entire world.
dgft IE Code Online Application Procedure India India in the governing authority that covers the changes or formulation or addition of new codes previously existing harmonized code list of reasons. The authority does periodical activities like commodity description, weeding beyond defunct codes, addition of brand new codes, change of product description etc. It maintains the harmonized code list, and also a number of such codes classified under 21 parts. 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. 1 of these 21 sections is further broken into 98 sections. The chapters are further split up into sub-headings to which particular HS Codes many products are mentioned.
Every trader dealing in international market has to bring up the particular code regarding his product in all of the forms along with important paperwork that must be filled up at period of import and export. All the related activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are carried out in hitting the ground with the code mentioned inside the papers. Hence one can say that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, end up being have been very troublesome for the traders to search for a particular segment of products. The list presents the entire product coding with a number of categories, simplifying a job of importers and exporters. You is likely to access this code list over the web with the internet data companies like Infodrive India. Besides providing additional HS tariff list, the corporation has also provided an indoor search box for searching the codes of particular goods it really is quite entering the product’s names.