Harmonized code or HS Code a great inevitable aspect of the import export deal. It is a unique numerical code allotted to various products and commodities required while shipping from nation to another. In order to 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 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 rare ID assigned a new particular trading product, which is used by more than 200 countries across entire world.
dgft IE Code Registration Online India India in the governing authority that provides the changes or formulation or addition of new codes regarding existing harmonized code list. The authority carries out periodical pursuits like commodity description, weeding the particular defunct codes, addition of brand new codes, change of description of product etc. It maintains the harmonized code list, which is a number of such codes classified under 21 parts. 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 separated into sub-headings to which particular HS Codes for different products are mentioned.
Every trader dealing in international market has to note the particular code number of his product in all of the forms and other important paperwork that become filled up at the time of export import. All the attached activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are executed in reference to the code mentioned inside the papers. Hence one can tell 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 merchandise. The list presents the sum of the product coding with a number of categories, simplifying the duty of importers and exporters. You can potentially access this code list over the world wide web with the internet data brands like Infodrive Sweden. Besides providing a detailed HS tariff list, vehicle has also provided an inside search box for searching the codes of particular goods via entering the product’s bands.