Harmonized code or HS Code is actually inevitable aspect in the import export dealings. It is a unique numerical code assigned to various products and commodities required while shipping from one country to another. Is used to describe particular goods within the import export trading platform.
The ITC HS Code List or India harmonized code list is regulated and maintained from 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 which has 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 good ID assigned any particular trading product, which is through more than 200 countries across earth.
dgft IE Code Registration Online India India in the governing authority that takes care of the changes or formulation or addition of new codes regarding existing harmonized code guidelines. The authority performs periodical activities like commodity description, weeding beyond defunct codes, addition of recent codes, change of description of product etc. It maintains the harmonized code list, along with that is a bunch 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. 1 of these 21 sections is further split up into 98 sections. The chapters are further split into sub-headings to which particular HS Codes for several products are mentioned.
Every trader dealing in international market has to bring up the particular code connected with his product in all of the forms and also important paperwork that needs to filled up at period of import export. All the attached activities like customs duty or excise duty or drawback rates or the actual exemption of commodities, are finished in experience with the code mentioned in the papers. Hence one know that these codes are mandatory while dealing in foreign exchange punches. If the HS tariff list was not available, it have been very troublesome for participants to investigation for a particular segment of merchandise. The list presents the full product coding with amount of categories, simplifying the task of importers and exporters. You can potentially access this code list over the online world with the online data companies like Infodrive India. Besides providing a comprehensive HS tariff list, vehicle has also provided an inside search box for searching the codes of particular goods because of entering the product’s bands.