Harmonized code or HS Code a good inevitable aspect within the Import Export Code Application Online India export dealings. It is a unique numerical code sent to various products and commodities required while shipping from one country 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 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 provides been developed at par with the international coding system to suit vehicle of the international trading community from the country. The code is basically, a fashionable ID assigned any particular trading product, which is utilized by more than 200 countries across the world.
DGFT India in the governing authority that covers the changes or formulation or addition of new codes previously existing harmonized code list. The authority does periodical activities like commodity description, weeding the defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, which is a selection 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. 1 of these 21 sections is further divided into 98 chapters. The chapters are further divided into sub-headings this agreement particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to say the particular code regarding his product in all the forms as well important paperwork that become filled up at period of import export. All the related activities like customs duty or excise duty or drawback rates or the particular exemption of commodities, are finished in experience with the code mentioned ultimately papers. Hence one can tell that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, always be have been very troublesome for participants to search for a particular segment of products. The list presents the sum of the product coding with variety of categories, simplifying the task of importers and exporters. You is likely to access this code list over the net with the internet data the likes of Infodrive India. Besides providing an end HS tariff list, organization has also provided an enclosed search box for searching the codes of particular goods via entering the product’s bands.