Harmonized code or HS Code a great inevitable aspect of the import export make trades. It is a unique numerical code used on various products and commodities required while shipping from one country 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 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 provides been developed at par with the international coding system to suit the requirements of the international trading community for the country. The code is basically, a unique ID assigned a new particular trading product, which is simply by more than 200 countries across entire world.
DGFT Apply IEC Online India in the governing authority that attends to the changes or formulation or addition of new codes in the existing harmonized code list of reasons. The authority performs periodical activities like commodity description, weeding beyond defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, which is a number of such codes classified under 21 sectors. 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 put into sub-headings this agreement particular HS Codes for different products are mentioned.
Every trader dealing in international market has to note the particular code connected with his product in all the forms because important paperwork that must be filled up at period of import and export. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are carried out in hitting the ground with the code mentioned inside the papers. Hence one know that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, it would have been very troublesome for the traders to watch for a particular segment of items. The list presents the entire product coding with a number of categories, simplifying a job of importers and exporters. You could access this code list over the web with the internet data manufacturers like Infodrive Indian. Besides providing an end HS tariff list, vehicle has also provided an indoor search box for searching the codes of particular goods it really is quite entering the product's such as :.