Harmonized code or HS Code a good inevitable aspect for the import export make trades. It is a unique numerical code allotted to various products and commodities required while shipping from one country to another. It is used to describe particular goods within 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 which 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 good ID assigned the particular trading product, which is by simply more than 200 countries across society.
dgft IE Code Online Application Procedure India India in the governing authority that covers the changes or formulation or addition of new codes regarding existing harmonized code list of reasons. The authority carries out periodical activities like commodity description, weeding the defunct codes, addition of new codes, change of product description etc. It maintains the harmonized code list, which is a range 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. 1 of these 21 sections is further divided into 98 chapters. The chapters are further split up into sub-headings to which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to mention the particular code connected with his product in all the forms as well important paperwork that become filled up at period of export import. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are carried out in hitting the ground with the code mentioned inside the papers. Hence one can tell that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, might have been very troublesome for the traders to search for a particular segment of products. The list presents the whole of the product coding with a lot of of categories, simplifying your responsibilities of importers and exporters. You is likely to access this code list over the web with the internet data the likes of Infodrive The indian subcontinent. Besides providing an end HS tariff list, the corporate has also provided an inside search box for searching the codes of particular goods because of entering the product's bands.