Harmonized code or HS Code a good inevitable aspect for the import export trade. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. Around the globe 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 from the Director General of Foreign Trade or DGFT 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 the requirements of the international trading community from the country. The code is basically, a special ID assigned to a particular trading product, which is utilized by more than 200 countries across earth.
dgft IE Code Registration Online India India in the governing authority that takes care of the changes or formulation or addition of new codes in existing harmonized code list of reasons. The authority does periodical pursuits like commodity description, weeding the actual defunct codes, addition of new codes, change of description of product etc. It maintains the harmonized code list, may a bunch 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. Each of these 21 sections is further divided into 98 sections. The chapters are further split up into sub-headings under which particular HS Codes for several products are mentioned.
Every trader dealing in international market has post the particular code associated with his product in all of the forms as well important paperwork that end up being filled up at time of import and export. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are finished in experience with the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, it would have been very troublesome for the traders to search for a particular segment of merchandise. The list presents the product coding with a lot of of categories, simplifying the duty of importers and exporters. You in many cases can access this code list over the web with the online data the likes of Infodrive The indian subcontinent. Besides providing a detailed HS tariff list, the corporate has also provided an internal search box for searching the codes of particular goods by way of entering the product’s makers.