Harmonized code or HS Code is an inevitable aspect of this import export dealings. It is a unique numerical code sent to various products and commodities required 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 by the Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import procedure. It is an eight digit code provides been developed at par with the international coding system to suit vehicle of the international trading community of the country. The code is basically, a unique ID assigned a new particular trading product, which is through more than 200 countries across entire world.
dgft IEC Registration Online India India in the governing authority that looks after the changes or formulation or addition of new codes in existing harmonized code guidelines. The authority performs periodical activities like commodity description, weeding the actual defunct codes, addition of brand new codes, change of description of product etc. It maintains the harmonized code list, along with that is a collection 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. Each of these 21 sections is further separated into 98 sections. The chapters are further divided into sub-headings to which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to mention the particular code number of his product in all the forms and also important paperwork that end up being filled up at time of export import. All the related activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are executed in reference to the code mentioned ultimately papers. Hence one can say that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, it have been very troublesome for participants to investigation for a particular segment of items. The list presents the product coding with amount of categories, simplifying the duty of importers and exporters. You can potentially access this code list over the net with the internet data companies like Infodrive Sweden. Besides providing a detailed HS tariff list, the corporate has also provided an inside search box for searching the codes of particular goods it really is quite entering the product’s makers.