Harmonized code or HS Code a good inevitable aspect of this import export make trades. It is a unique numerical code assigned to various products and commodities required while shipping from one country to another. It is used to describe particular goods your import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained by the Director General of Foreign Trade or dgft IE Code Registration Online India India. The international coding system has been adopted in India for export import operations. It is an eight digit code which has 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 rare ID assigned any particular trading product, which is by simply more than 200 countries across the planet.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes in existing harmonized code guidelines. The authority does periodical activities like commodity description, weeding out of defunct codes, addition of new codes, change of description of product etc. It maintains the harmonized code list, which is a range 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. Both these 21 sections is further divided into 98 chapters. The chapters are further divided into sub-headings to which particular HS Codes many 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 needs to filled up at the time 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 example of the code mentioned inside the papers. Hence one can tell that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, might have been very troublesome for participants to search for a particular segment of merchandise. The list presents the whole of the product coding with a number of categories, simplifying the procedure of importers and exporters. You can potentially access this code list over the net with the internet data businesses like Infodrive Sweden. Besides providing a comprehensive HS tariff list, vehicle has also provided an interior search box for searching the codes of particular goods it really is quite entering the product’s makers.