Harmonized code or HS Code can be an inevitable aspect for the import export make trades. It is a unique numerical code used on various products and commodities required while shipping from one country to another. In order to used to describe particular goods your import export trading platform.
The ITC HS Code List or India harmonized IEC Code Online Application India 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 techniques. It is an eight digit code which has been developed at par with the international coding system to suit automobile of the international trading community belonging to the country. The code is basically, a special ID assigned the particular trading product, which is simply by more than 200 countries across the planet.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes previously existing harmonized code list of reasons. The authority performs periodical activities like commodity description, weeding out of defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, may 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 put into 98 sections. The chapters are further split up into sub-headings under which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to say the particular code associated with 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 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 trade. If the HS tariff list was not available, end up being have been very troublesome for participants to search for a particular segment of merchandise. The list presents the entire product coding with a lot of of categories, simplifying the procedure of importers and exporters. You can easily access this code list over the net with the internet data businesses like Infodrive India. Besides providing an end HS tariff list, the company has also provided an internal search box for searching the codes of particular goods because of entering the product’s such as :.