Harmonized code or HS Code is actually inevitable aspect within the import export make trades. It is a unique numerical code sent to various products and commodities required while shipping from nation to another. In order to used to describe particular goods your 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 action. It is an eight digit code which has been developed at par with the international coding system to suit vehicle of the international trading community from the country. The code is basically, a rare ID assigned a new particular trading product, which is used by more than 200 countries across earth.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes in the existing harmonized code list of reasons. The authority does periodical activities like commodity description, weeding the particular 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 sections. 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. Each of these 21 sections is further split up into 98 chapters. The chapters are further split into sub-headings this agreement particular HS Codes many products are mentioned.
Every trader dealing in international market has post the particular code number of his product in all of the forms as well important paperwork that to be able to filled up at period of Import Export Code Application Online India export. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are finished in experience with the code mentioned inside of the papers. Hence one know that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, it have been very troublesome for the traders to track down a particular segment of items. The list presents the product coding with variety of of categories, simplifying a job of importers and exporters. You in many cases can access this code list over the internet with the online data brands like Infodrive India. Besides providing additional HS tariff list, the corporation has also provided an inside search box for searching the codes of particular goods because of entering the product’s names.