Harmonized code or HS Code can be an inevitable aspect for the import export deal. It is a unique numerical code sent to various products and commodities required while shipping from one country 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 by the 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 provides been developed at par with the international coding system to suit automobile of the international trading community from the country. The code is basically, a good ID assigned a new particular trading product, which is through more than 200 countries across entire world.
dgft IE Code Registration Online India India in the governing authority that covers the changes or formulation or addition of new codes in the existing harmonized code guidelines. The authority performs periodical pursuits like commodity description, weeding the particular defunct codes, addition of brand new codes, change of product description 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. 1 of these 21 sections is further broken into 98 sections. The chapters are further divided into sub-headings under which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to say the particular code connected with his product in all the forms and also important paperwork that end up being filled up at time of export import. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are performed in hitting the ground with the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign trade. If the HS tariff list was not available, it have been very troublesome for the traders to investigation for a particular segment of products. The list presents the entire product coding with a number of categories, simplifying a job of importers and exporters. You could access this code list over the world wide web with the internet data the likes of Infodrive India. Besides providing a detailed HS tariff list, organization has also provided an internal search box for searching the codes of particular goods by way of entering the product’s companies.