Harmonized code or HS Code is an inevitable aspect of 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. Is 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 the 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 has been developed at par with the international coding system to suit automobile of the international trading community on the country. The code is basically, a unique ID assigned using a particular trading product, which is utilized by more than 200 countries across entire world.
dgft IE Code Online Registration in India India in the governing authority that covers the changes or formulation or addition of new codes regarding existing harmonized code list. The authority carries out periodical activities like commodity description, weeding out of defunct codes, addition of new codes, change of description of product etc. It maintains the harmonized code list, may 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. Every these 21 sections is further split up into 98 sections. The chapters are further separated into sub-headings to which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to note the particular code involving his product in all of the forms because important paperwork that become filled up at the time of import export. All the attached activities like customs duty or excise duty or drawback rates or perhaps the exemption of commodities, are carried out in example of the code mentioned in the papers. Hence one can tell that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, it would have been very troublesome for the traders to track down a particular segment of merchandise. The list presents the whole of the product coding with a lot of of categories, simplifying the task of importers and exporters. You can potentially access this code list over the world wide web with the online data businesses like Infodrive Indian. Besides providing an end HS tariff list, the corporation has also provided an inside search box for searching the codes of particular goods it really is quite entering the product’s makers.