Harmonized code or HS Code a great inevitable aspect of this import export dealings. It is a unique numerical code allotted to various products and commodities required while shipping from nation to another. It 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 from your Director General of Foreign Trade or DGFT India. The international coding system has been adopted in India for export import function. It is an eight digit code that 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 special ID assigned a new particular trading product, which is simply 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 in the existing harmonized code place. The authority carries out periodical activities like commodity description, weeding the defunct codes, addition of the latest codes, change of description of product etc. It maintains the harmonized code list, and also a selection 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 separated into 98 chapters. The chapters are further divided into sub-headings under which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to note the particular code number of his product in all the forms and other important paperwork that end up being filled up at period of import export. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are finished in hitting the ground with the code mentioned ultimately papers. Hence one know 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 participants to search for a particular segment of products. The list presents the full product coding with variety of categories, simplifying the task of importers and exporters. You is likely to access this code list over the world wide web with the Apply IEC Online India data businesses like Infodrive Sweden. Besides providing a detailed HS tariff list, organization has also provided an inside search box for searching the codes of particular goods because of entering the product’s such as :.