Harmonized code or HS Code a good inevitable aspect of this import export trade. It is a unique numerical code allotted to various products and commodities required while shipping from nation to another. Its used to describe particular goods your 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 operations. It is an eight digit code provides been developed at par with the international coding system to suit vehicle of the international trading community for the country. The code is basically, a rare ID assigned to a particular trading product, which is used by more than 200 countries across society.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes previously existing harmonized code guidelines. The authority does periodical pursuits like commodity description, weeding the actual defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, along with that is a selection of such codes classified under 21 pieces. 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. Every these 21 sections is further split up into 98 sections. The chapters are further split into sub-headings this agreement particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to mention the particular code connected with his product in all of the forms along with important paperwork that become filled up at period of Import Export Code Application Online India 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 in the papers. Hence one know 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 merchandise. The list presents the product coding with a number of categories, simplifying the task of importers and exporters. You in many cases can access this code list over the web with the internet data the likes of Infodrive Of india. Besides providing additional HS tariff list, vehicle has also provided an inside search box for searching the codes of particular goods because of entering the product’s companies.