Harmonized code or HS Code a great inevitable aspect of the import export commerce. It is a unique numerical code sent to various products and commodities required while shipping from nation to another. In order to used to describe particular goods your 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 Export Code Application Online India procedure. It is an eight digit code provides been developed at par with the international coding system to suit the requirements of the international trading community for the country. The code is basically, a good ID assigned any particular trading product, which is used by more than 200 countries across the planet.
DGFT India in the governing authority that attends to the changes or formulation or addition of new codes in the existing harmonized code place. The authority carries out periodical activities like commodity description, weeding the actual defunct codes, addition of brand new codes, change of description of product etc. It maintains the harmonized code list, and also a range of such codes classified under 21 sections. 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. Each of these 21 sections is further divided into 98 sections. The chapters are further separated into sub-headings under which particular HS Codes to target different products are mentioned.
Every trader dealing in international market has to say the particular code associated with his product in all the forms because important paperwork that end up being filled up at the time of export import. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are executed in hitting the ground with the code mentioned in the papers. Hence one can say that these codes are mandatory while dealing in foreign return. If the HS tariff list was not available, it have been very troublesome for participants to watch for a particular segment of merchandise. The list presents the whole of the product coding with variety of categories, simplifying the task of importers and exporters. You can easily access this code list over the internet with the online data manufacturers like Infodrive Sweden. Besides providing additional HS tariff list, vehicle has also provided an inside search box for searching the codes of particular goods because of entering the product’s names.