Harmonized code or HS Code a great inevitable aspect for the import export make trades. It is a unique numerical code allotted to various products and commodities required while shipping from nation to another. Its 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 through 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 procedure. It is an eight digit code that has been developed at par with the international coding system to suit automobile of the international trading community from the country. The code is basically, a rare ID assigned the particular trading product, which is simply by more than 200 countries across earth.
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 beyond defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, may a range of such codes classified under 21 pieces. 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. All of these 21 sections is further put into 98 sections. The chapters are further put into sub-headings under which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has post the particular code regarding his product in all of the forms and other important paperwork that must be filled up at time of import export. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are carried out in experience with the code mentioned in the papers. Hence one can say 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 the traders to track down a particular segment of merchandise. The list presents the whole of the product coding with a lot of of categories, simplifying the duty of importers and exporters. You in many cases can access this code list over the web with the online data brands like Infodrive India. Besides providing an end HS tariff list, the corporation has also provided an inside search box for searching the codes of particular goods by way of entering the product’s bands.