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 nation to another. Is used to describe particular goods within the 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 procedure. It is an eight digit code which includes been developed at par with the international coding system to suit vehicle of the international trading community on the country. The code is basically, a special ID assigned a new particular trading product, which is simply by more than 200 countries across earth.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes in existing harmonized code guidelines. The authority does periodical pursuits like commodity description, weeding the particular defunct codes, addition of the latest codes, change of product description etc. It maintains the harmonized code list, may a range 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. All of these 21 sections is further broken into 98 sections. The chapters are further split into sub-headings to which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to note the particular code number of his product in all of the forms as well important paperwork that to be able to filled up at period of import export. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are performed in hitting the ground with the code mentioned ultimately papers. Hence one can tell that these codes are mandatory while dealing in foreign return. 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 merchandise. The list presents the product coding with variety of of categories, simplifying the procedure of importers and exporters. You in many cases can access this code list over the online world with the internet data companies like Infodrive Sweden. Besides providing additional HS tariff list, the corporate has also provided an enclosed search box for searching the codes of particular goods simply by entering the product’s names.