Harmonized code or HS Code is an inevitable aspect of this import export make trades. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. Is used to describe particular goods regarding Import Export Code Online Registration India 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 techniques. It is an eight digit code that has been developed at par with the international coding system to suit vehicle of the international trading community for the country. The code is basically, a unique ID assigned a new particular trading product, which is by simply 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 guidelines. The authority carries out periodical pursuits like commodity description, weeding the actual defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, along with that is a bunch 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. All of these 21 sections is further divided into 98 sections. The chapters are further split into sub-headings this agreement particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to bring up the particular code associated with his product in all the forms along with important paperwork that must be filled up at the time of import and export. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are executed in example of the code mentioned in 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 the traders to search for a particular segment of products. The list presents the entire product coding with variety of categories, simplifying the procedure of importers and exporters. You could access this code list over the web with the internet data companies like Infodrive Sweden. Besides providing an end HS tariff list, organization has also provided an indoor search box for searching the codes of particular goods because of entering the product’s names.