Harmonized code or HS Code can be an inevitable aspect for the import export make trades. It is a unique numerical code assigned to various products and commodities required while shipping from nation to another. In order to used to describe particular goods regarding 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 Export Code Application Online India techniques. 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 belonging to the country. The code is basically, a good ID assigned a new particular trading product, which is through more than 200 countries across the world.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes in existing harmonized code place. The authority carries out periodical activities like commodity description, weeding the actual defunct codes, addition of brand new codes, change of description of product etc. It maintains the harmonized code list, which is a number 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 put into 98 sections. The chapters are further split into sub-headings to which particular HS Codes many products are mentioned.
Every trader dealing in international market has to note the particular code regarding his product in all the forms along with important paperwork that to be able to 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 performed in experience of the code mentioned inside of the papers. Hence one know that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, end up being have been very troublesome for the traders to search for a particular segment of merchandise. The list presents the full product coding with a number of categories, simplifying a job of importers and exporters. You can potentially access this code list over the net with the internet data companies like Infodrive Sweden. Besides providing a detailed HS tariff list, organization has also provided an interior search box for searching the codes of particular goods via entering the product’s bands.