Harmonized code or HS Code is an inevitable aspect for the import export trade. It is a unique numerical code sent to various products and commodities required while shipping from nation 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 from your Director General of Foreign Trade or dgft IE Code Online Application Procedure India India. The international coding system has been adopted in India for export import action. 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 on the country. The code is basically, a special ID assigned any particular trading product, which is used by more than 200 countries across entire world.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes previously existing harmonized code list. The authority does periodical activities like commodity description, weeding the defunct codes, addition of new codes, change of product description etc. It maintains the harmonized code list, and also a range of such codes classified under 21 sections. 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 divided into 98 sections. The chapters are further divided into sub-headings under which particular HS Codes for several products are mentioned.
Every trader dealing in international market has to mention the particular code involving his product in all of the forms as well important paperwork that end up being filled up at the time of import and export. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are carried out in reference to the code mentioned ultimately papers. Hence one can tell that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, might have been very troublesome for the traders to search for a particular segment of items. The list presents the entire product coding with amount of categories, simplifying the duty of importers and exporters. You can potentially access this code list over the net with the internet data manufacturers like Infodrive Of india. Besides providing additional HS tariff list, organization has also provided an inside search box for searching the codes of particular goods by way of entering the product’s bands.