Harmonized code or HS Code is actually inevitable aspect of this import export dealings. It is a unique numerical code sent to various products and commodities required while shipping from one country to another. Its used to describe particular goods in the 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 IE Code Online Application Procedure India India. The international coding system has been adopted in India for export import procedure. It is an eight digit code provides been developed at par with the international coding system to suit the requirements of the international trading community belonging to the country. The code is basically, a special ID assigned any particular trading product, which is used by more than 200 countries across the planet.
DGFT India in the governing authority that looks after the changes or formulation or addition of new codes in the existing harmonized code list. The authority does 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, 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. 1 of these 21 sections is further split up into 98 chapters. The chapters are further split into sub-headings under which particular HS Codes many products are mentioned.
Every trader dealing in international market has to mention the particular code associated with his product in all the forms and also important paperwork that must be filled up at period of import and export. All the related activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are carried out in experience of the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign substitute. If the HS tariff list was not available, might have been very troublesome for participants to investigation for a particular segment of items. The list presents the whole of the product coding with variety of of categories, simplifying your responsibilities of importers and exporters. You can easily access this code list over the online world with the online data businesses like Infodrive The indian subcontinent. Besides providing additional HS tariff list, organization has also provided an internal search box for searching the codes of particular goods because of entering the product’s such as :.