Harmonized code or HS Code is an inevitable aspect of the Import Export Code Online Registration India export deal. It is a unique numerical code allotted to various products and commodities required while shipping from one country to another. Its 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 through Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import action. 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 fashionable ID assigned a new particular trading product, which is used by more than 200 countries across earth.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes in existing harmonized code guidelines. The authority does periodical activities like commodity description, weeding beyond defunct codes, addition of recent codes, change of description of product etc. It maintains the harmonized code list, which 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. Each of these 21 sections is further divided into 98 chapters. The chapters are further divided into sub-headings this agreement particular HS Codes many products are mentioned.
Every trader dealing in international market has post the particular code number of his product in all the forms and also important paperwork that to be able to filled up at the time of export import. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are finished in example of the code mentioned ultimately papers. Hence one can tell that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, might have been very troublesome for the traders to track down a particular segment of items. The list presents the product coding with a lot of of categories, simplifying the duty of importers and exporters. You is likely to access this code list over the web with the online data brands like Infodrive Sweden. Besides providing a comprehensive HS tariff list, the corporation has also provided an indoor search box for searching the codes of particular goods by way of entering the product’s makers.