Harmonized code or HS Code is actually inevitable aspect for the import export deal. It is a unique numerical code allotted to various products and commodities Documents required for Import Export Code Registration Online 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 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 includes been developed at par with the international coding system to suit vehicle of the international trading community belonging to the country. The code is basically, a rare ID assigned the particular trading product, which is simply by more than 200 countries across earth.
DGFT India in the governing authority that looks after the changes or formulation or addition of new codes in existing harmonized code listing. The authority carries out periodical activities like commodity description, weeding the particular defunct codes, addition of brand 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. 1 of these 21 sections is further divided into 98 chapters. The chapters are further split into sub-headings to which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to say the particular code involving his product in all the forms as well important paperwork that end up being filled up at the time of export import. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are carried out in experience with the code mentioned inside the papers. Hence one can tell that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, might have been very troublesome for the traders to watch for a particular segment of products. The list presents the full product coding with variety of of categories, simplifying the procedure of importers and exporters. You in many cases can access this code list over the online world with the internet data companies like Infodrive Of india. Besides providing additional HS tariff list, organization has also provided an indoor search box for searching the codes of particular goods via entering the product’s companies.