Harmonized code or HS Code a great inevitable aspect in the import export commerce. It is a unique numerical code sent to various products and commodities required while shipping from nation to another. In order to 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 the Director General of Foreign Trade or dgft IE Code Online Registration in India India. The international coding system has been adopted in India for export import techniques. It is an eight digit code which 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 a new particular trading product, which is through more than 200 countries across entire world.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes regarding existing harmonized code guidelines. The authority carries out periodical activities like commodity description, weeding the 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. 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 other products are mentioned.
Every trader dealing in international market has post the particular code number of his product in all of the forms along with important paperwork that end up being filled up at the 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 executed in hitting the ground with the code mentioned ultimately papers. Hence one can say that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, it have been very troublesome for the traders to watch for a particular segment of items. The list presents the entire product coding with variety of of categories, simplifying a job of importers and exporters. You could access this code list over the net with the internet data the likes of Infodrive Of india. Besides providing an end HS tariff list, the corporation has also provided an indoor search box for searching the codes of particular goods simply by entering the product’s makers.