Harmonized code or HS Code is an inevitable aspect of the import export dealings. It is a unique numerical code allotted to various products and commodities required while shipping from one country to another. In order to 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 through Director General of Foreign Trade or dgft IE Code Online Registration in India India. The international coding system has been adopted in India for export import action. It is an eight digit code which includes 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 special ID assigned using a particular trading product, which is utilized by more than 200 countries across society.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes regarding existing harmonized code guidelines. The authority carries out periodical pursuits like commodity description, weeding out of defunct codes, addition of brand new codes, change of product description etc. It maintains the harmonized code list, along with that is 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 broken into 98 chapters. The chapters are further put into sub-headings to which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to note the particular code connected with his product in all of the forms along with important paperwork that become filled up at period of import and export. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are carried out in hitting the ground with the code mentioned ultimately papers. Hence one know that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, end up being have been very troublesome for participants to watch for a particular segment of items. The list presents the product coding with variety of categories, simplifying the procedure of importers and exporters. You can potentially access this code list over the web with the online data brands like Infodrive India. Besides providing an end HS tariff list, the corporation has also provided an enclosed search box for searching the codes of particular goods simply by entering the product’s names.