Harmonized code or HS Code can be an inevitable aspect of this import export make trades. It is a unique numerical code sent to various products and commodities required while shipping from nation to another. In order to 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 by the Director General of Foreign Trade or dgft IE Code Registration Online India India. The international coding system has been adopted in India for export import action. 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 using a particular trading product, which is by simply more than 200 countries across the world.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes in the existing harmonized code place. The authority performs periodical activities like commodity description, weeding out of defunct codes, addition of brand new codes, change of description of product etc. It maintains the harmonized code list, and also a collection 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. Each of these 21 sections is further broken into 98 sections. The chapters are further split up into sub-headings under which particular HS Codes many products are mentioned.
Every trader dealing in international market has to say the particular code regarding his product in all the forms and also important paperwork that must be filled up at period of import and export. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are performed in example of the code mentioned inside the papers. Hence one know that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, always be have been very troublesome for the traders to search for a particular segment of merchandise. The list presents the entire product coding with a lot of of categories, simplifying a job of importers and exporters. You is likely to access this code list over the web with the online data brands like Infodrive Sweden. Besides providing a complete HS tariff list, the company has also provided an interior search box for searching the codes of particular goods because of entering the product’s bands.