Harmonized code or HS Code is actually inevitable aspect for the import export commerce. It is a unique numerical code sent to various products and commodities required while shipping from one country 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 your Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import techniques. It is an eight digit IEC Code Online Application India which been developed at par with the international coding system to suit the requirements of the international trading community of the country. The code is basically, a fashionable ID assigned using a particular trading product, which is by simply more than 200 countries across the world.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes in the existing harmonized code list of reasons. The authority carries out periodical pursuits like commodity description, weeding the defunct codes, addition of recent codes, change of description of product etc. It maintains the harmonized code list, and also a collection 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. All of these 21 sections is further put into 98 chapters. The chapters are further split up into sub-headings this agreement particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to bring up the particular code regarding his product in all the forms and also important paperwork that become filled up at time of import and export. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are executed in experience with the code mentioned ultimately papers. Hence one know that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, end up being have been very troublesome for the traders to track down a particular segment of items. The list presents the entire product coding with variety of categories, simplifying a job of importers and exporters. You can potentially access this code list over the internet with the online data companies like Infodrive The indian subcontinent. Besides providing a detailed HS tariff list, the company has also provided an indoor search box for searching the codes of particular goods via entering the product’s makers.