Harmonized code or HS Code is an inevitable aspect of the import export dealings. It is a unique numerical code sent to various products and commodities Documents required for Import Export Code Registration Online while shipping from nation to another. Around the globe used to describe particular goods your import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained your Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import operations. It is an eight digit code which been developed at par with the international coding system to suit automobile of the international trading community on the country. The code is basically, a special ID assigned the particular trading product, which is by simply more than 200 countries across the world.
DGFT India in the governing authority that looks after the changes or formulation or addition of new codes previously existing harmonized code list of reasons. The authority does periodical pursuits like commodity description, weeding out of defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, may a bunch 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. Both these 21 sections is further split up into 98 sections. The chapters are further split into sub-headings to which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to say the particular code regarding his product in all of the forms and other 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 even the exemption of commodities, are carried out in example of the code mentioned inside of 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 the traders to track down a particular segment of products. The list presents the entire product coding with variety 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 online data businesses like Infodrive Indian. Besides providing a detailed HS tariff list, vehicle has also provided an enclosed search box for searching the codes of particular goods via entering the product’s names.