Harmonized code or HS Code a great inevitable aspect in the import export commerce. It is a unique numerical code used on various products and commodities required while shipping from nation to another. In order to 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 by 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 has been developed at par with the international coding system to suit the requirements of the international trading community of the country. The IEC Code Online Application India is basically, a unique ID assigned a new particular trading product, which is through more than 200 countries across entire world.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes regarding existing harmonized code listing. The authority does periodical activities like commodity description, weeding out of defunct codes, addition of brand new codes, change of description of product etc. It maintains the harmonized code list, may a collection 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 under which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to mention the particular code number of his product in all the forms and also important paperwork that to be able to 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 finished in experience of the code mentioned inside the papers. Hence one can tell that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, end up being have been very troublesome for participants to search for a particular segment of merchandise. The list presents the full product coding with a lot of of categories, simplifying the task of importers and exporters. You is likely to access this code list over the world wide web with the internet data manufacturers like Infodrive India. Besides providing a comprehensive HS tariff list, vehicle has also provided an enclosed search box for searching the codes of particular goods simply by entering the product’s names.