Harmonized code or HS Code can be an inevitable aspect within the import export dealings. It is a unique numerical code allotted to various products and commodities required while shipping from nation to another. Is used to describe particular goods regarding 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 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 the requirements of the international trading community of the country. The code is basically, a good ID assigned to a particular trading product, which is used by more than 200 countries across society.
DGFT India in the governing authority that takes care of the changes or formulation or addition of new codes the actual existing harmonized code listing. The authority performs periodical activities like commodity description, weeding out of defunct codes, addition most recent codes, change of description of product etc. It maintains the harmonized code list, which is a number of such codes classified under 21 pieces. 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. Both these 21 sections is further split up into 98 sections. The chapters are further split into sub-headings this agreement particular HS Codes for different products are mentioned.
Every trader dealing in international market has to say the particular code number of his product in all of the forms and other important paperwork that needs to filled up at time of export Import Export Code Online Registration India. All the related activities like customs duty or excise duty or drawback rates or even exemption of commodities, are carried out in example of the code mentioned ultimately papers. Hence one know that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, it would have been very troublesome for participants to search for a particular segment of items. The list presents the entire product coding with a lot of of categories, simplifying the duty of importers and exporters. You in many cases can access this code list over the net with the internet data businesses like Infodrive Of india. Besides providing a detailed HS tariff list, the corporation has also provided an internal search box for searching the codes of particular goods simply by entering the product's such as :.