Harmonized code or HS Code a good inevitable aspect within the import export trade. It is a unique numerical code allotted to various products and commodities required while shipping from nation to another. It 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 techniques. It is an eight digit code provides been developed at par with the international coding system to suit vehicle of the international trading community of the country. The code is basically, a unique ID assigned a new particular trading product, which is through more than 200 countries across the planet.
dgft IEC Registration Online India India in the governing authority that provides the changes or formulation or addition of new codes regarding existing harmonized code place. The authority does periodical activities like commodity description, weeding beyond defunct codes, addition of brand new codes, change of description of product etc. It maintains the harmonized code list, along with that is a collection of such codes classified under 21 business units. 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 split up into 98 chapters. The chapters are further split up into sub-headings under which particular HS Codes for different products are mentioned.
Every trader dealing in international market has post the particular code connected with his product in all of the forms and also important paperwork that needs to filled up at period of export import. 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 can tell that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, it have been very troublesome for participants to track down a particular segment of merchandise. The list presents the sum of the 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 online world with the internet data brands like Infodrive Sweden. Besides providing a complete HS tariff list, vehicle has also provided an inside search box for searching the codes of particular goods via entering the product’s bands.