Harmonized code or HS Code can be an inevitable aspect within the import export trade. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. Is used to describe particular goods your past 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 operations. It is an eight digit code which been developed at par with the international coding system to suit vehicle of the international trading community for the country. The code is basically, a rare ID assigned to a particular trading product, which is through more than 200 countries across earth.
dgft IE Code Online Application Procedure India India in the governing authority that looks after the changes or formulation or addition of new codes in the existing harmonized code list of reasons. The authority carries out periodical activities like commodity description, weeding the particular defunct codes, addition of recent codes, change of product description etc. It maintains the harmonized code list, and also a selection of such codes classified under 21 business units. 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 put into 98 chapters. The chapters are further put into sub-headings to which particular HS Codes for several products are mentioned.
Every trader dealing in international market has to bring up the particular code regarding his product in all of the forms and also important paperwork that needs to filled up at period of export import. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are performed in reference to the code mentioned ultimately papers. Hence one can say that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, it have been very troublesome for the traders to search for a particular segment of merchandise. The list presents the entire product coding with variety of of categories, simplifying your responsibilities of importers and exporters. You can potentially access this code list over the internet with the internet data brands like Infodrive Sweden. Besides providing a detailed HS tariff list, the corporate has also provided an indoor search box for searching the codes of particular goods simply by entering the product’s names.