Harmonized code or HS Code a great inevitable aspect within the Import Export Code Application Online India export deal. It is a unique numerical code assigned to various products and commodities required while shipping from nation to another. Its used to describe particular goods your past import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained through 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 which has been developed at par with the international coding system to suit the requirements of the international trading community from the country. The code is basically, a unique ID assigned to a particular trading product, which is through more than 200 countries across the planet.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes previously existing harmonized code place. The authority performs periodical pursuits like commodity description, weeding beyond defunct codes, addition of new codes, change of description of product etc. It maintains the harmonized code list, along with that is a selection of such codes classified under 21 pieces. 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 put 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 post the particular code regarding his product in all of the forms as well important paperwork that must be filled up at period of export import. All the related activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are executed in experience of the code mentioned in the papers. Hence one can tell 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 products. The list presents the whole of the 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 online data businesses like Infodrive India. Besides providing a comprehensive HS tariff list, the corporation has also provided an indoor search box for searching the codes of particular goods via entering the product’s bands.