Harmonized code or HS Code a great inevitable aspect in the import export deal. It is a unique numerical code assigned to various products and commodities required while shipping from nation to another. 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 Export Code Online Registration India techniques. It is an eight digit code provides 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 good ID assigned a new particular trading product, which is by simply more than 200 countries across the planet.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes previously existing harmonized code list of reasons. The authority performs periodical pursuits like commodity description, weeding the defunct codes, addition of recent codes, change of description of product etc. It maintains the harmonized code list, and also a range 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 broken into 98 sections. The chapters are further split up into sub-headings under which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to note the particular code associated with his product in all of the forms as well important paperwork that must be filled up at period of import and export. All the attached activities like customs duty or excise duty or drawback rates or even exemption of commodities, are performed in hitting the ground with the code mentioned inside the papers. Hence one know 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 participants to watch for a particular segment of products. The list presents the full product coding with a number of categories, simplifying the duty of importers and exporters. You can easily access this code list over the world wide web with the internet data the likes of Infodrive India. Besides providing an end HS tariff list, vehicle has also provided an indoor search box for searching the codes of particular goods simply by entering the product’s such as :.