Harmonized code or HS Code is an inevitable aspect within the import export deal. It is a unique numerical code sent to various products and commodities required while shipping from nation to another. It 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 Apply IEC Online India for export import function. It is an eight digit code provides 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 the particular trading product, which is utilized 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 regarding existing harmonized code list of reasons. The authority carries out periodical activities like commodity description, weeding out of defunct codes, addition of recent codes, change of product description etc. It maintains the harmonized code list, along with that is a number 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 broken into 98 sections. The chapters are further divided into sub-headings to which particular HS Codes many products are mentioned.
Every trader dealing in international market has post the particular code involving his product in all of the forms as well important paperwork that to be able to filled up at period of export import. 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 substitute. If the HS tariff list was not available, end up being have been very troublesome for participants to track down a particular segment of items. The list presents the product coding with variety of of categories, simplifying the procedure of importers and exporters. You can potentially access this code list over the web with the internet data manufacturers like Infodrive Indian. Besides providing an end HS tariff list, the corporate has also provided an internal search box for searching the codes of particular goods because of entering the product’s names.