Harmonized code or HS Code can be an inevitable aspect within the import export dealings. It is a unique numerical code assigned to various products and commodities required while shipping from one country to another. Its 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 from 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 code which has 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 good ID assigned any particular trading product, which is through more than 200 countries across the planet.
dgft IE Code Online Registration in India India in the governing authority that looks after the changes or formulation or addition of new codes previously existing harmonized code listing. The authority does periodical activities like commodity description, weeding out of defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, which is 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. 1 of these 21 sections is further put into 98 chapters. The chapters are further put into sub-headings under which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to say the particular code number of his product in all of the forms along with important paperwork that become filled up at period of export import. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are finished in example of the code mentioned inside the papers. Hence one can say 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 participants to track down a particular segment of merchandise. The list presents the whole of the product coding with variety of of categories, simplifying the procedure of importers and exporters. You could access this code list over the internet with the internet data businesses 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 because of entering the product’s names.