Harmonized code or HS Code a good inevitable aspect of this import export deal. It is a unique numerical code allotted to various products and commodities Documents required for Import Export Code Registration Online while shipping from one country to another. Its 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 techniques. It is an eight digit code which has been developed at par with the international coding system to suit automobile of the international trading community on the country. The code is basically, a good ID assigned a new particular trading product, which is utilized by more than 200 countries across society.
DGFT India in the governing authority that looks after the changes or formulation or addition of new codes in existing harmonized code list. The authority performs periodical pursuits like commodity description, weeding out of defunct codes, addition most recent codes, change of product description etc. It maintains the harmonized code list, which is a collection 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 divided into sub-headings under which particular HS Codes to target other products are mentioned.
Every trader dealing in international market has to bring up the particular code regarding his product in all of the forms and other important paperwork that needs to filled up at time of export import. All the attached activities like customs duty or excise duty or drawback rates or even the exemption of commodities, are executed in experience of the code mentioned inside the papers. Hence one can say that these codes are mandatory while dealing in foreign commerce. If the HS tariff list was not available, it would have been very troublesome for the traders to search for a particular segment of merchandise. The list presents the full product coding with amount of categories, simplifying your responsibilities of importers and exporters. You can easily access this code list over the net with the internet data brands like Infodrive India. Besides providing a comprehensive HS tariff list, the corporation has also provided an enclosed search box for searching the codes of particular goods because of entering the product’s bands.