Harmonized code or HS Code a good inevitable aspect within the import export commerce. 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 regarding import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained 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 action. It is an eight digit code provides 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 rare ID assigned the particular trading product, which is used by more than 200 countries across earth.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes previously existing harmonized code list. The authority carries out 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, may a selection 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. Every these 21 sections is further broken into 98 sections. The chapters are further separated into sub-headings under which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to bring up the particular code number of his product in all the forms and other important paperwork that become filled up at the time of export import. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are performed in example of the code mentioned in the papers. Hence one can say that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, it have been very troublesome for the traders to search for a particular segment of items. The list presents the full product coding with a number of categories, simplifying your responsibilities of importers and exporters. You in many cases can access this code list over the net with the internet data businesses like Infodrive Indian. Besides providing a complete HS tariff list, the company has also provided an inside search box for searching the codes of particular goods because of entering the product’s names.