Harmonized code or HS Code is actually 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. Around the globe 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 your 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 procedure. It is an eight digit code that has 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 unique ID assigned to a particular trading product, which is simply by more than 200 countries across entire world.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes the actual existing harmonized code guidelines. The authority performs periodical pursuits 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, 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. Every these 21 sections is further divided into 98 sections. The chapters are further split up into sub-headings this agreement particular HS Codes for different products are mentioned.
Every trader dealing in international market has to note the particular code involving his product in all of the forms and also important paperwork that needs to filled up at time of import export. All the related activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are executed in experience with the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, might have been very troublesome for the traders to search for a particular segment of items. The list presents the whole of the product coding with variety of categories, simplifying the duty of importers and exporters. You can easily access this code list over the internet with the internet data companies like Infodrive India. Besides providing a comprehensive HS tariff list, the corporation has also provided an interior search box for searching the codes of particular goods via entering the product’s makers.