Harmonized code or HS Code is actually inevitable aspect within the import export commerce. 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 within the import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained your 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 been developed at par with the international coding system to suit the requirements of the international trading community for the country. The code is basically, a fashionable ID assigned using a particular trading product, which is by simply more than 200 countries across the world.
DGFT India in the governing authority that provides the changes or formulation or addition of new codes in the existing harmonized code guidelines. The authority performs periodical activities like commodity description, weeding the particular defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, and also a bunch of such codes classified under 21 sectors. 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 separated into 98 chapters. The chapters are further divided into sub-headings under which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to bring up the particular code associated with his product in all the forms and also important paperwork that become filled up at period of import export. All the attached activities like customs duty or excise duty or drawback rates or even exemption of commodities, are carried out in reference to the code mentioned ultimately papers. Hence one know that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, always be have been very troublesome for the traders to search for a particular segment of items. The list presents the whole of the product coding with variety of categories, simplifying the task of importers and exporters. You in many cases can access this code list over the online world with the internet data businesses like Infodrive Of india. Besides providing an end HS tariff list, the company has also provided an interior search box for searching the codes of particular goods by way of entering the product's companies.